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Articles

June 30, 2022

Charles Lutwidge
What is Accountancy

What is Accountancy

You may have come across two different concepts, such as accountancy and accounting. Is it the same term? Or these two concepts have different definitions. Check out the article to find out. Understanding Accountancy Accountancy is a process of managing all..

Reading Time 3 mins
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Articles

June 29, 2022

Charles Lutwidge
Biweekly vs Semimonthly Payroll

Biweekly vs Semimonthly Payroll

Choosing a payroll schedule may be confusing. Every system has benefits and flaws, which doesn’t make it easier to make up one’s mind. Keep reading the article to learn about two payroll schedules: biweekly and semimonthly payrolls. Hopefully, the article will..

Reading Time 3 mins
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Articles

June 23, 2022

Charles Lutwidge
Noncumulative Preferred Stock Definition

Noncumulative Preferred Stock Definition

Investors know that buying a company’s stock leads to getting dividends. Moreover, buying the stock of a promising company can lead to an increase in the stock price in the future. As a result, the investor may get a good profit...

Reading Time 4 mins
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Articles

June 22, 2022

Charles Lutwidge
What Is Obsolete Inventory?

What Is Obsolete Inventory?

If you own a business with an inventory, the most critical thing is to maintain it properly. Without keeping an eye on the inventory, it may become obsolete. This article focuses on obsolete inventory and ways of treating it. Understanding Obsolete..

Reading Time 4 mins
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Articles

June 17, 2022

Charles Lutwidge
What Does Paid In Arrears Mean

What Does Paid In Arrears Mean

Small business owners have to deal with multiple various tasks. One of the most important tasks is handling finances. Such aspects as paying for rent and utilities, taking care of payroll, and properly maintaining inventory are just some of the expenses..

Reading Time 5 mins
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Articles

June 16, 2022

Charles Lutwidge
How to Keep Track of Business Expenses and why it’s Important?

How to Keep Track of Business Expenses and why it’s Important?

Having a business is fun since you get to make your dreams come true. But it also leads to responsibilities. Business owners have to file taxes, pay salaries and wages, keep documentation in order, and at the same time improve the..

Reading Time 7 mins
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Articles

June 15, 2022

Charles Lutwidge
What is IRS Form 1040

What is IRS Form 1040

1040 is an IRS (Internal Revenue Service) form. The IRS sends it to individual taxpayers to file their annual income tax returns. The form consists of sections that request individuals to disclose their taxable income gained during a specific year. The..

Reading Time 5 mins
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Articles

June 10, 2022

Charles Lutwidge
What are Notes Receivable in Accounting?

What are Notes Receivable in Accounting?

Notes receivable is a balance sheet item that reflects the value of the notes that the Company is to receive and for which it is to receive payment. Promissory notes are promises to pay money to another party on or before..

Reading Time 5 mins
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Articles

June 08, 2022

Charles Lutwidge
What are Asset Disposals?

What are Asset Disposals?

Asset retirement is the removal from a company’s journal by selling or decommissioning it. These are long-term assets that have contributed to carrying out a profit, such as a company’s machinery, technology, or vehicles. Business tracks asset disposals as equipment and..

Reading Time 3 mins
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Articles

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