The Direct Write off Method: How to Handle Bad Debts in the Books
The term write-off may also be used loosely to explain something that reduces taxable income. As such, deductions, credits, and ... Read Mores
Bookkeeping
A Small Business Guide to Reversing Entries
Below should be the entry to record the earned revenue on February 29, 2024. This will reduce unearned revenue to ... Read Mores
Is a manufacturer’s product warranty part of its manufacturing overhead or is it part of its SG&A expense?
A guarantee, on the other hand, is a promise or assurance from the manufacturer or seller that the product will ... Read Mores
LIFO Reserve: Guide to Accurate Inventory Valuation
This release includes certain non-GAAP financial data and measures such as adjusted earnings, adjusted earnings per share, and adjusted earnings ... Read Mores