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Scope of Financial Accounting

Padrão do site | dezembro 19, 2019

Generally Accepted Accounting Principles (GAAP) is the standard framework of guidelines for financial accounting used in any given jurisdiction. It includes the standards, conventions and rules that accountants follow in recording and summarizing and in the preparation of financial statements. Information collected and recorded by financial accounting is properly categorized […]


Bookkeeper Salaries working full time versus self-employed

Padrão do site | setembro 9, 2019

The company’s transactions were written in the journals in date order. Later, the amounts in the journals would be posted to the designated accounts located in the general ledger. Balancing the Books The certificates include Debits and Credits, Adjusting Entries, Financial Statements, Balance Sheet, Income Statement, Cash Flow Statement, Working […]


What Are Accrued Liabilities?

Padrão do site | agosto 2, 2019

The two primary methods are accrual accounting and cash accounting. Cash accounting reports revenue and expenses as they are received and paid; accrual accounting reports them as they are earned and incurred. The cash basis yields financial statements that are noticeably different from those created under the accrual basis, since […]

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