Category: Bookkeeping

This is because the method takes into account the asset’s residual value, which is the estimated value of the asset at the end of its useful life. By using a higher depreciation rate in the earlier years, the method double declining balance method can better reflect the asset’s decline in value and estimate its residual… Continue reading Depreciation Declining Balance and Straight Line

Fees earned from providing services and the amounts of merchandise sold. Under the accrual basis of accounting, revenues are recorded at the time of delivering the service or the merchandise, even if cash is not received at the time of delivery. An accounting guideline which allows the readers of financial statements to assume that the… Continue reading Accounting Principles Meaning, Top 6 Basic Principles

The purpose of this article is to define temporary accounts, provide examples and explain the different types of temporary accounts. A temporary account is closed at the end of every accounting period and begins a new period with a zero balance. It is closed to safeguard the balances from being mixed with is interest income… Continue reading How to Differentiate between Temporary and Permanent Accounts? Examples+

11 Financial may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration fcff formula requirements. 11 Financial’s website is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Finance Strategists has… Continue reading What is Return on Common Stockholders Equity ROCE? Definition Meaning Example