November 02, 2020
Charles Lutwidge
Cash Dividends and Stock Dividends
One of the income sources that investors rely on when buying shares on the stock market, in addition to the growth in the market value of the stocks, is dividends. A stock is, in essence, part of an operating business...
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October 30, 2020
Charles Lutwidge
Single-Step vs Multi-Step Income Statement
The main indicators of modern accounting reports on financial results of an organization are income, expenses, results by type of activity, and the final financial result for the reporting period in the form of profit (loss). Profit is the source...
October 30, 2020
Charles Lutwidge
Inventory Turnover Ratio
Inventory is often the largest portion of working capital. Inventories are those things the business holds in order to enable it to produce as well as to trade. If the inventory is not used up by business operations at a...
October 30, 2020
Charles Lutwidge
Business Credit Card
A business has different needs, and a business credit card can help meet many of these needs. By the way, we are talking not only about large companies but also about small and medium-sized businesses. What is a business credit...
October 30, 2020
Charles Lutwidge
Notes to Financial Statements
Definition Financial statements are an overview of the results of the company’s work for the whole year. Therefore, the company should pay close attention to the presentation of these results to users of reports. Despite the fact that preparing financial...
October 15, 2020
Charles Lutwidge
Overview of Reversing Entries
Definition A reversing entry is simply an entry that reverses the month-end adjusting entry from the period before. In other words, you just flip the debits and credits you made before to set up an accrual and post an entry...
October 15, 2020
Charles Lutwidge
Basic Accounting Principles
Accounting is a system of continuous and interconnected observation and control over the economic activities of an entity. Afterall, it is impossible to plan the further work of the enterprise without controlling processes. How successful an organization is depends largely...
October 15, 2020
Charles Lutwidge
Introduction to T-Accounts
Every enterprise needs an accounting system that would be able to continuously monitor changes in assets, capital, and liabilities status. Also, this system should provide the ability to draw up a Balance Sheet and other reports at the right time....
