Answering the Question: How is Historical Cost Accounting Better than Alternatives?
If you’ve been wondering about what historical cost accounting is, and how historical cost accounting is better than alternatives, you’ve …
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Debt Financing Affects the Balance Sheet - How
When considering how to finance your business, it is important to take into account how debt financing affects the balance sheet. Learn all about debt …
Continue ReadingWhat is the Historical Cost Principle for Recording Assets?
To describe the historical cost principle one would say that when valuing an asset, the original cost of the asset is used. The historical cost, or …
Continue ReadingHow to Create a Statement of Owner's Equity - Free Sample Statement Available for Download
It’s not too difficult to create a statement of owner’s equity for your business - all you have to know is how to create one! We’ll …
Continue ReadingDo You Have Any Misconceptions About the Accounting Cycle?
If you’re new at accounting (or even if you’ve been at it for a while) you may be holding some common misconceptions about the accounting …
Continue ReadingTop Three Easy Ways to Remember the Accounting Equation
Are you having a difficult time remembering how assets, liabilities, and owner’s equity relate to one another in the accounting equation? Learn …
Continue ReadingWhat Are Current Assets?
In the world of financial accounting there are more than one type of assets. CPAs will often ask you for a list of fixed assets and current assets to …
Continue ReadingBalanced Scorecard Example for 3 Different Business Models
The cornerstone of a good balanced scorecard is the selection of the right objectives and metrics to measure the performance of the organization. In …
Continue ReadingIllustrated Examples of Post-Adjusted and Post-Closing Trial Balances
These examples are best illustrated as year end worksheets, to show transitions from an unadjusted trial balance to an adjusted trial balance.
Continue ReadingHow to Create a Balanced Scorecard in Excel with Rating Symbols
The visual representation of your balanced scoreboard should be the highlight of your presentation. Learn how to create a balanced scorecard in Excel …
Continue ReadingProviding a Sample Unadjusted Trial Balance Worksheet
What do you do if the Total Debit and Total Credit columns on your trial balance don’t equal? Learn some tips on how to detect posting errors before …
Continue ReadingAll About the Acquisition of Fixed Assets
Acquiring fixed assets may be one of your company’s goals for the fiscal year, but how does one go about the acquisition of fixed assets? Learn …
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