Category: Bookkeeping

A receipt is very good record in black and white which you can use as a proof or evidence. You must have good record of all receiving things whether its cash or product on your end. And these types of receipts are used for spending on small expenditure like buying small…

The financial report might use a red bar to show a decrease in net income, while a green bar could represent an increase in revenue from new product lines. To illustrate, consider a company that has experienced a significant variance in its quarterly earnings. Blue might be used in a financial…

Potential benefits of consolidated financial statements include tax advantages and clearer insights for investors. Consolidated financial statements are important for both private and public companies, although private companies have very few requirements for reporting. They provide a comprehensive view of financial health by presenting the assets, liabilities, income, revenue, expenses, and…

The group depreciation method is used for depreciating multiple-asset accounts using a similar depreciation method. The table below illustrates the units-of-production depreciation schedule of the asset. Sum-of-years-digits is a spent depreciation method that results in a more accelerated write-off than the straight-line method, and typically also more accelerated than the declining…