Contra Asset

ContentExamples Of Contra AccountsContra Asset AccountUnderstanding Contra AccountsFrequently Asked Questions For Contra Asset Accounts Obsolete inventory refers to a company's products or goods that have become obsolete, or unusable, during routine use and operations. This type of contra asset account may generally be debited expenses, followed by a credit to...

Secured Vs Unsecured Bonds

ContentWhat Is A Secured Bond?How To Buy Unsecured Corporate BondsUnderstanding The Secured BondUnsecured Bond In some cases, investors’ claims to collateral are challenged in the courts. There are costs and delays inherent in responding to legal challenges. In this and other cases, investors may lose some of their principal investment....

Sg&a

ContentHow Do You Calculate Sg&a?Are Sg&a Expenses Tax Deductible?How To Calculate The Selling, General And Administrative (sg&a) Expenses If the ratio rises over time, it indicates an increased pressure on the company’s profitability. That shows SG&A expenses increase higher than revenue, thereby reducing the company’s net profit. The information in...

Retained Earnings On The Balance Sheet

ContentWhat Is The Normal Balance In The Retained Earnings Account?Video Explanation Of Retained EarningsExam 3How Does Common Stock Affect Retained Earnings?How Do You Prepare A Retained Earnings Statement? An increase or decrease in revenue affects retained earnings because it impacts profits or net income. A surplus in your net income...

Unearned Revenue, Deferred Payment Examples Defined And Explained

ContentUnderstanding Unearned RevenueWhat Is Unearned Revenue Vs Deferred Revenue?Revenues And Matching Expenses because the obligation is typically fulfilled within a period of less than a year. However, in some cases, when the delivery of the goods or services may take more than a year, the respective unearned revenue may be...

Personal Accounting Services Software

ContentPersonal Tax Planning By Experienced Tax AdvisersAbout The CompanySchmitt Accounting SolutionsPersonal Accounting Services Awards & AccoladesPersonal Finance Reviews Personal Tax Planning By Experienced Tax Advisers Are you looking for assistance with your self-assessment tax returns? Our team of professionals will review your affairs and advise you on the best way...

What Is The Selling & Administrative Expenses Equation?

ContentTypes Of Selling, General, And Administrative Expenses (sg&a)Sg&a Can Be Fixed Or Variable CostsThe Budget Preparation ProcessThe Difference Between Sg&a And Operating Expenses Finally, administrative costs encompass salaries for administrative staff and executives, as well as fees or salaries for professional services such as IT, accounting, or attorneys. Sales to...

Comparative Financial Statement Analysis

ContentBusinessHow To Analyze Your Business Using Financial RatiosThe Top 25 Tax Deductions Your Business Can TakeVertical Vs Horizontal Common Size Analysis Each method provides different information and can be used for different purposes, but both are highly effective accounting tools to give you insight on your business’s health and performance....

Comparison Of Job Costing With Process Costing

ContentProcess CostingSage 300 Construction And Real EstateJob Costing: Allocating Costs And Analyzing Unit Economics For Growth & ProfitJob Costing Allocation Of Materials1 Differentiating Job Costing From Process Costing Once the job is sold and delivered, the job costs are transferred from finished goods inventory to cost of goods sold. Figure...

Contra Asset

ContentWhat Is A Contra Account? DefinitionWhat Is A Contra Asset Account?AccountingContra Account DefinitionContra Asset Account A transaction is made under the sales return account when a customer returns a product to the company for a refund. Sales allowance represents discounts given to customers to entice them to keep products instead...