See Also: Accounting Principles Probable Losses Subsequent Events Business Segments How to Make Dramatic Changes in Business Planning Your Exit Strategy Percentage Completion Method What Your Banker Wants You To Know Accounting Changes Accounting changes and error corrections are the switch from one principle of accounting to another – like with inventory and recognition of
See Also: Accelerated Method of Depreciation Double Declining Method Depreciation Straight Line Depreciation Amortization Fixed Assets – NonCurrent Assets Balance Sheet Contra Asset Account Accounting Depreciation Definition The accounting depreciation definition is the allocation of the cost of a tangible asset over its useful life. The idea is to match the cost of the asset to
See also: Does Your Management Team Understand the Financials? General Ledger Reconciliation and Analysis Allowance for Uncollectible Accounts Allowance for Uncollectible Accounts Explained When companies sell products to customers on credit, the customer receives the product and agrees to pay later. The customer’s obligation to pay later is recorded in accounts receivable on the balance
See also: Allowance for Uncollectible Accounts Explained How to Collect Accounts Receivable How to Calculate DSO Accounts Receivable Turnover Another Way To Look At Factoring Dispersion Allowance for Uncollectible Accounts Definition Allowance for uncollectible accounts is a contra asset account on the balance sheet representing accounts receivable the company does not expect to collect. When
See Also: Accounts Receivable Turnover Collect Accounts Receivable Calculate Daily Sales Outstanding Time Saving Tip for Filing Vendor Invoices Accounts Payable Notes Receivable Imprest Account Accounts Receivable Definition The accounts receivable definition is a current asset account on the balance sheet. Accounts receivable (A/R) is a mainstay concept in business. It also represents money owed to
See Also: Generally Accepted Accounting Principles Financial Accounting Standards Board International Financial Reporting Standards Depreciation Financial Assets Accounting Asset Definition In accounting, an asset has two criteria: a company must own or control it, and it must be expected to generate future benefit for that company. Assets on Balance Sheet A company records the value
See Also: Balance Sheet Definition Income Statement Cash Flow Statement 10 Q Statement of Financial Accounting Standards (SFAS) Fiscal Period 10 K Definition What does 10 K mean? A 10K is an annual cumulative financial statement required by the Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934 for all publicly traded
See Also: Balance Sheet Definition Income Statement Cash Flow Statement Pro-Forma Financial Statements Statement of Financial Accounting Standards (SFAS) Fiscal Period 10K 10 Q Definition What does 10 Q mean? The 10 Q definition is a quarterly cumulative financial statement required by the Securities and Exchange Commission (SEC) under the Securities and Exchange Act of
Monitoring a company’s performance using ratio analysis and comparing those measures to industry benchmarks often leads to improvements in company performance. Not to mention these ratios are often part of loan covenants. The following article provides an overview of the 5 categories of financial ratios and links to their description and calculation. Use the following
When considering an acquisition of, investment in, or employment with a company it is best for your peace of mind, as well as, financially to be aware of indications that the company’s true picture may not be what management would lead you to believe. Warning Signs of a Company in Trouble The surest sign that
Today the Financial Accounting Standards Board (FASB) changed FAS 157, providing companies more flexibility in determining the fair value of their investments held. In addition, the FASB also granted companies more flexibility in taking impairment charges on investment losses. The changes will take effect in Q2, though companies will be free to report Q1 under
This week the FASB is considering relaxing the mark-to-market accounting rule, which would seem to undercut the US Treasury Department’s plan to help banks fix their balance sheets by ridding themselves of the so-called “toxic assets.” FASB Change to FAS 157 As a taxpayer, I’d have to say that I prefer the FASB’s approach to
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