Depletion is central to resource accounting, capturing the diminishing value of natural resource assets over time. This is especially relevant for industries like mining, oil, and gas, where resource extraction... read more →
They are accrued revenues, accrued expenses, deferred revenues and deferred expenses. Each of the steps in the accounting cycle contributes towards smooth transition from one accounting period to another. For... read more →
ERP enables efficient integration of various business processes, supporting better communication and collaboration among departments. ERP systems help manage resources effectively by providing real-time data on inventory levels, production schedules,... read more →
When the customer pays the invoice, the seller records the payment as a credit to the AR account and a debit to the cash account. The term accrual refers to... read more →
With embryo models growing in sophistication, they argued in a commentary in the journal Cell, the relevant question is not how they got here but where they are going. The... read more →
Capital stakeholders, present value formula communities, and even the environment could be seen as recipients of long-term benefits from sustainable projects. By evaluating the present value of the expected future... read more →
The marginal cost of producing 10 additional leather jackets can be calculated as follows. In the real world, decision-makers don’t consider Marginal Cost in isolation. Instead, they compare it to... read more →
The net credit sales come out to $100,000 and $108,000 in Year 1 and Year 2, respectively. Learn what payment gateways are, how they work and how they serve you... read more →
You’ll want to write down the vendor’s name, the date of the purchase, how much it cost and any other information such as receipts or invoices from them. There are... read more →
Capex does not impact the income statement directly, but rather, the depreciation expense is periodically recognized to “spread” the cost of the outflow. The net change in NWC is $5... read more →