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What Is Vertical Analysis?

Unlike the unadjusted income statement and balance sheet, the common size variations can be used for peer-to-peer comparisons between different companies. Vertical analysis provides a better understanding of how each line item on the balance sheet fits into the company’s financial structure and is an invaluable decision-making tool. By examining these vertical percentages, analysts can […]

Effective Annual Rate EAR Calculator

It is the compound interest payable annually in arrears, based on the nominal interest rate. It is used to compare the interest rates between loans with different compounding periods. Investors and borrowers should also be aware of the effective interest rate, which takes the concept of compounding into account. A certificate of deposit (CD), a […]

5 1 Describe and Prepare Closing Entries for a Business Principles of Accounting, Volume 1: Financial Accounting

If this is the case, then this temporary dividends account needs to be closed at the end of the period to the capital account, Retained Earnings. When dividends are declared by corporations, they are usually recorded by debiting Dividends Payable and crediting Retained Earnings. Note that by doing this, it is already deducted from Retained […]

How to Determine an Assets Salvage Value

Content Prepare a depreciation journal entry Find similar assets in the marketplace Fixed Assets (IAS : Definition, Recognition, Measurement, Depreciation, and Disclosure What is Depreciable Value? Understanding Depreciable Property Why Are Assets Depreciated Over Time? Suppose the truck sells for $7,000 when its net book value is $10,000, resulting in a loss of $3,000. The […]

Accounting Cycle Explained

Content What is an Accounting Cycle? What is the Accounting Cycle? The accounting cycle’s 8 steps You must cCreate an account to continue watching The general ledger gives a breakup of all accounting activities by account. This gives the bookkeeper the ability to monitor balances and positions by account. An example of an account in the […]

How is work in progress WIP typically measured in accounting?

Concrete Crew, a concrete subcontractor, implements WIP accounting as an integral component of their financial management system. The firm generates a WIP schedule monthly, which aligns with their payment application cycle, a practice that reflects industry-standard WIP accounting principles. Over- and underbilling identify disparities between the actual billings and the earned revenue. To navigate the […]

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