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Financial Memos

The Accounting and Finance Community

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ARTICLES

When earned revenue is reported is an important accounting principle.

When is Earned Revenue Reported?

Do you pay income tax on drawings from a business?

Do You Pay Tax on Drawings From a Business?

Contingent assets are possible assets contingent on future events taking place.

Contingent Asset Accounting and Analysis

Accrued revenue is income that has been earned but not yet billed or received.

Accrued Revenue Accounting and Journal Entries

Accrued expenses are balance day adjustments for expenses incurred but not yet paid.

Accrued Expense Accounting and Journal Entries

Prepayments are for goods and services paid in advance and yet to be delivered.

Prepayments Occur When Payments Are In Advance

Revenue received in advance of work completed is treated as unearned revenue liability.

Unearned Revenue Accounting

Friday, January 22, 2021

Category: Blog

Debt Free Affirmations – For Each Day of the Month
Blog Personal Finance

Debt Free Affirmations – For Each Day of the Month

January 9, 2021

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

becoming debt freedebtspersonal debt Comment on Debt Free Affirmations – For Each Day of the Month
Cryptocurrency Mining – My Side-hustle Project
Blog Entrepreneurship

Cryptocurrency Mining – My Side-hustle Project

September 14, 2020

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

bitcoincryptocurrencyethereum Comment on Cryptocurrency Mining – My Side-hustle Project
Accrued Revenue Accounting and Journal Entries
Accounting Tutorials Blog Tutorials

Accrued Revenue Accounting and Journal Entries

September 7, 2020

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 revenuebalance day adjustments Comment on Accrued Revenue Accounting and Journal Entries
What is a Quant Trader – A Look Into Finance
Blog Finance

What is a Quant Trader – A Look Into Finance

August 21, 2020

We have finally got back to writing about finance. After a rather long break from all writing and the last few months being focused on accounting and and personal finance, … Read More

quantquant tradertrading Comment on What is a Quant Trader – A Look Into Finance
Debt Free Stories – Are They Really?
Blog Personal Finance

Debt Free Stories – Are They Really?

August 3, 2020

A lot of our personal finance blog series is about debt and in particular how to become debt free. This is in large part a reflection of our debt free … Read More

dave ramseypersonal debtrobert kiyosaki Comment on Debt Free Stories – Are They Really?
Ways to Control Spending – Three Suggestions
Blog Personal Finance

Ways to Control Spending – Three Suggestions

July 20, 2020

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 … Read More

budgetingdave ramseyspending Comment on Ways to Control Spending – Three Suggestions
Financial Literacy and a Family Quiz Night
Blog Personal Finance

Financial Literacy and a Family Quiz Night

July 3, 2020

As I have begun to get back to this website and try to make a success of it once again, I have been mindful of personal finances; in particular in … Read More

financial literacy Comment on Financial Literacy and a Family Quiz Night

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  • When is Earned Revenue Reported?
  • Debt Free Affirmations – For Each Day of the Month
  • Do You Pay Tax on Drawings From a Business?
  • Cryptocurrency Mining – My Side-hustle Project
  • Contingent Asset Accounting and Analysis
  • Accrued Revenue Accounting and Journal Entries
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