Bookkeeping

Accrued revenue is income earned by a company that the company has not yet been paid for. Therefore, the company opens a receivable balance as it expects to get paid... read more →

ContentHow to Use LeanLaw with QuickBooks OnlineBenefits of using MyCase for your Law Firm Accounting NeedsAccounting for Attorneys and Law FirmsLaw Firms ThriveStop wasting time and money with inefficient systemsAccounting... read more →

ContentWhat is factoring with recourse?Why You Can Trust Finance StrategistsWhat Is Assignment of Accounts Receivable?What is the journal entry to record when a company factors its receivables?Factor Accounts ReceivableWill factoring... read more →

ContentVAT on disbursements and rechargesIs a Disbursement a Refund?About this guidanceUnderstanding Disbursements: A GuideThe difference between payments and disbursementsHighways searchesVAT treatment of disbursements and expenses This compensation might influence the... read more →

Materiality in governmental auditing is different from materiality in private sector auditing for several reasons. In the examples given above, both, instances of material misstatement, as well as immaterial misstatement... read more →

This is calculated by taking the retail markup and dividing the value by the wholesale cost of the product. It uses the same burger information as above — the price... read more →