Many tax jurisdictions have a form of sales tax, which is a tax on the final customer of the good or service. In affect businesses collecting this tax are agents for the tax authority and have to...

Drawings are the withdrawal of capital from a business by an owner. In this article, we will look at a simple example and the journal entry required to account for interest charged on drawings. The...

Like a lot of problems in personal finance the ways to control spending are almost unlimited; the reason being all of our circumstances are unique. Our personalities are different, our families are...

Before we look at the debt issuance costs, we need to define what we are reviewing and a little history in where current recognition, measurement and disclosure is with generally accepted accounting...

The accounting for convertible debt presents some technical accounting challenges. However, we can help you with the theory and practical, setting out the debits and credits you need to know.

As subscription models for goods and services have increased the accounting for their revenue has taken on even greater importance. Our tutorial works through all the calculations and journal entries...