When is Earned Revenue Reported?
When starting out in your accounting studies some of the earliest material to be covered is that concerning accounting principles. These are the fundamental understandings or agreements in the field … Read More
Debt Free Affirmations – For Each Day of the Month
I have to be honest here, this is not something that I do nor used in our debt elimination journey (we are on stage 6 of the Dave Ramsey Baby … Read More
Do You Pay Tax on Drawings From a Business?
In my experience as a Chartered Accountant over the past 20 years, one of the areas that causes the greatest confusion for new clients is drawings. In particular the question … Read More
Cryptocurrency Mining – My Side-hustle Project
Having a look at our recent article production on the site we have certainly been focused on accounting tutorial writing mode. This has been an area I’ve been keen to … Read More
Contingent Asset Accounting and Analysis
In accounting a contingent asset is a possible asset the business will receive at some point but the existence of these benefits, and control over them, is to be confirmed … Read More
Accrued Revenue Accounting and Journal Entries
Accrued revenue is the recognition of income by the business that has not yet been billed, invoiced, or money received. In today’s accounting tutorial, the last in our series on … Read More
Accrued Expense Accounting and Journal Entries
When a business records an expense at the end of reporting period for which it has not received an invoice for nor paid we call this an accrued expense. Under … Read More