What Are Trade Receivables? Definition & Examples
Trade receivables are the sum of money your customers owe you for buying goods and services on credit. These amounts…
8 min read
Bookkeeping
Bookkeeping
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Latest Posts
Bank Reconciliation: How It Works and Why It’s Important?
A bank reconciliation is a schedule that explains any discrepancies between the balance on the bank statement and the balance…
9 min read
What Is Liquid Net Worth? Definition and Calculation
Not all assets can be easily liquidated. Usually, high-value fixed assets such as buildings, equipment, or vehicles take months and…
8 min read
Depreciation Schedule: A Beginner’s Guide
Not all assets that a business owns are held for sale. Property, buildings, equipment, vehicles, machinery, and other fixed assets,…
12 min read
Payback Period: Definition, Formula & Examples
Ideally, businesses would pursue all projects and opportunities that hold potential profit and enhance their shareholder’s value. However, there’…
6 min read
What Is Accumulated Profit? Definition & How It Works
An essential amount that corporations need to calculate at the end of every accounting period, is their accumulated profit. Accumulated…
6 min read
What Is Auditing? Definition, Types & Importance
Auditing originates from the Latin term “Audire”, which means “to hear,” - just as in ancient times auditors used to…
7 min read
Operating Income: Definition, Examples & Calculation
If you’ve ever looked at an income statement, you’ve probably noticed “operating income” listed as a businesses' main…
6 min read
The Basics of Cost Accounting
All types of businesses, whether they provide services, manufacture products, or sell merchandise have costs, and thus, require cost accounting…
8 min read
A Beginner’s Guide to Bookkeeping
Are you a small business owner who wants to learn how to do your own books? Do you want to…
14 min read
What Is Double-Entry Bookkeeping? Accounting Guide for Small Business
The accounting cycle starts with recording financial transactions as journal entries. And with every recorded journal entry, there’s a…
11 min read
What is a Commercial Invoice? Everything You Need to Know
When it comes to shipping goods to international clients, there are standard document requirements used for exporting. One of the…
11 min read