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October 17, 2021

Charles Lutwidge
Annual Income: Meaning and Calculation

Annual Income: Meaning and Calculation

Overview There are numerous reasons an individual would need to know their total annual income. This can be an application for a loan, tax payments, as well as child support. What is meant by total annual income? Let’s look at an..

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October 15, 2021

Charles Lutwidge
Accounts Receivable Factoring

Accounts Receivable Factoring

Your manufacturing company has received a large contract, shipped a large batch of goods with a deferred payment. The second major client made an order immediately after this transaction and your company definitely does not want to lose this client. At..

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October 13, 2021

Charles Lutwidge
Capital Lease vs Operating Lease

Capital Lease vs Operating Lease

Leases The most common types of leases you will come across as a business owner or an accountant are operating lease and capital lease. Before we do capital lease vs operating lease comparison, let’s first consider what makes businesses go for..

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October 08, 2021

Charles Lutwidge
Encumbrance Accounting: Explanation and Example

Encumbrance Accounting: Explanation and Example

Budgeting and Planning A budget is an itemized plan that includes the income and expenses of a company for a certain period. Most often it is drawn up for a year, but the company itself can increase or decrease the period..

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October 06, 2021

Charles Lutwidge
Basics of Nonprofit Accounting

Basics of Nonprofit Accounting

Nonprofit organization An organization is considered nonprofit if two conditions are met: its purpose is not to make a profit. As a rule, it sets before itself socially useful tasks: social, charitable, cultural, educational, scientific, and many others; the received profit..

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October 05, 2021

Charles Lutwidge
Fund Accounting Explained in Simple Terms

Fund Accounting Explained in Simple Terms

Accounting in non-profit Accounting information is used by users for decision-making and control. The company’s management, having analyzed the accounting information for the year, will make decisions regarding the further activities of the non-profit organization. After studying the accounting information, the..

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October 04, 2021

Charles Lutwidge
Introduction to Governmental Accounting

Introduction to Governmental Accounting

Overview Governmental organizations provide a broad range of services to the public in a given geographic area. You are well aware of federal and state governments, cities, towns, counties, and so on. There are also governmental organizations that have a special..

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October 01, 2021

Charles Lutwidge
Explanation of Account Reconciliation with Example

Explanation of Account Reconciliation with Example

Overview It is not a secret for anyone that the reliability of financial statements and accounting data can and should be checked. In this regard, there are corresponding provisions in accounting practice. They provide for the need for an inventory of..

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September 30, 2021

Charles Lutwidge
What Is Sales Margin and How to Calculate It?

What Is Sales Margin and How to Calculate It?

When starting a business, most entrepreneurs are unfamiliar with many economic concepts and processes. Nevertheless, over time, you have to master this too. After all, business owners are always interested in developing and increasing the income of their company. One of..

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