Contra Account: A Complete Guide [+ Examples]
Everything you need to know about contra accounts Share on facebook Share on twitter Share on pinterest Share on linkedin Contents Contents What Is a Contra Account? A contra account is a general ledger account with a balance that is contrary to the normal balance for that account classification, used to reduce the original amount […]
Chart of Accounts: Complete Guide [+ Examples]
Everything you need to know about the Chart of Accounts [explained by a Certitfied Accountant] Share on facebook Share on twitter Share on pinterest Share on linkedin Contents Explanation: What Is a Chart of Accounts? Chart of accounts is an index of general ledger accounts that provides a complete list of account names in a […]
Suspense Account: The Complete Guide [+ Examples]
Everything you need to know about suspense accounts Share on facebook Share on twitter Share on pinterest Share on linkedin Contents Definition: What Is a Suspense Account? Suspense account is a holding account used in accounting and finance to temporarily record financial transactions until they are transferred to their designated destination, including entries that are […]
Intangible Assets: The Complete Guide
Everything you need to know about intangible assets (with examples!) Contents Share on facebook Share on twitter Share on pinterest Share on linkedin Definition: What Are Intangible Assets? An intangible asset is a long-term resource without physical substance that cannot be seen, touched or physically measured, from which a business expects to generate economic returns […]
Petty Cash Fund: The Complete Guide
Examples | Amount | Rules | Process | Templates | … Everything you need to know Share on facebook Share on twitter Share on pinterest Share on linkedin Definition: What Is Petty Cash? Petty cash, or petty cash fund, is a small amount of physical currency kept on hand to conveniently pay for miscellaneous minor […]
Current Assets: The Complete Guide
Everything you need to know about current assets Share on facebook Share on twitter Share on pinterest Share on linkedin Share on facebook Share on twitter Share on pinterest Share on linkedin Contents Definition: What Are Current Assets? Current assets, or current accounts, is a balance sheet category of short-term economic resources controlled by an […]
Net vs Gross: What’s the Difference? [Complete Guide]
Gross vs. Net for Salary Pay | Income Earnings | Profit | Sales Revenue | Weight | Rent | Price … and more Share on facebook Share on twitter Share on pinterest Share on linkedin Contents What’s the difference between gross and net when it comes to your money and business? Gross is the total […]
Pro Rata: 9 Prorated Examples | Calculation | Meaning & Definition
How to Prorate Salary, Rent, Refund, Bill, Interest Rates, Share Dividends & More | Complete Guide Share on facebook Share on twitter Share on pinterest Share on linkedin Contents Keep reading for everything you need to know about prorating: 1. What does it mean when something is pro rata or prorated? 2. How do you […]
Year-Over-Year (YoY): Complete Guide + Examples
Definition | Examples | Formula | Calculation |“Good” YOY Growth | Benefits Share on facebook Share on twitter Share on pinterest Share on linkedin Contents You can’t be in the world of business, finance, or investing and not hear the term “year-over-year” (YoY) at least once a day. But do you 100% understand what exactly […]
What is an Account?: Top 10 Uses in Business, Finance & Accounting
Account: Definition | Explanation | Examples | Types | Classification | Meaning | What Is Share on facebook Share on twitter Share on pinterest Share on linkedin Contents What do YOU think of when you hear the word “account”? Here’s what the term account means in general business – as well as in the specific […]