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September 27, 2020

Charles Lutwidge
Cash Flow from Operating Activities

Cash Flow from Operating Activities

Company executives are interested in financial security and business stability, which is largely determined by the generated cash flow. In the course of its activities, an enterprise or company generates various cash flows. They can have a different focus – the..

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Articles

September 26, 2020

Charles Lutwidge
Balance Sheet Template and Structure

Balance Sheet Template and Structure

Balance sheet – What is it? Everything in business, as in life, must be balanced. However, in business, this means something else. Even if you are not an accountant, you probably have heard about a Balance sheet as a thing that..

Reading Time 3 mins
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Articles

September 25, 2020

Charles Lutwidge
Cash Short and Over Account

Cash Short and Over Account

Overview Cash includes coin, paper money, checks, and money orders. Money on deposit with a bank and other financial institutions that are available for withdrawal is also considered cash. Cash is the asset most likely to be stolen or used improperly..

Reading Time 3 mins
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Articles

September 25, 2020

Charles Lutwidge
Dividends Account – Explanation and Example

Dividends Account – Explanation and Example

Definition Every once in awhile, a company may decide to distribute some of its earnings to its stockholders/shareholders. In financial accounting, they are referred to as dividends. They can happen frequently, such as every quarter, or a corporation may decide to..

Reading Time 3 mins
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Articles

September 25, 2020

Charles Lutwidge
The Suspense Account – Everything You Need to Know

The Suspense Account – Everything You Need to Know

Definition Although bookkeeping is supposed to be accurate, it might happen that some errors are made. Obviously, it will be necessary to find out why and correct the mistake. If the error cannot be found, it is necessary to insert a..

Reading Time 3 mins
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Articles

September 25, 2020

Charles Lutwidge
What is a Trial Balance?

What is a Trial Balance?

Definition   By definition, a Trial Balance is not a formal financial statement. It is merely the ledger accounts listed along with their respective closing debit or credit (normal) balances on a certain date. Other financial statements are usually prepared after..

Reading Time 3 mins
5 / 5 (1 voted)

Articles

September 02, 2020

Charles Lutwidge
Manufacturing Overhead Costs

Manufacturing Overhead Costs

Any business activity involves costs. Money is spent on diverse processes and purchases: equipment maintenance, raw materials, packaging, transportation, etc. Three are also costs associated with management processes, where wages and salaries are a big percentage of these spendings. Such a..

Reading Time 3 mins
5 / 5 (1 voted)

Articles

September 02, 2020

Charles Lutwidge
Gross vs. Net Income

Gross vs. Net Income

Sometimes, people, including business owners, get gross and net income confused. Thus, being able to tell the difference allows one to properly evaluate accounting reports, make financial plans, know what to provide when asked for one or the other, and much..

Reading Time 3 mins
5 / 5 (1 voted)

Articles

September 02, 2020

Charles Lutwidge
A Simple Explanation of Straight Line Depreciation

A Simple Explanation of Straight Line Depreciation

Definition and Formula The method of accounting for the allocation of costs of any physical or tangible asset during its useful life is known as depreciation. These costs arise due to: Use Wear and tear The passing of time Obsolescence. The..

Reading Time 3 mins
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