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Financial Memos

The Accounting and Finance Community

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ARTICLES

Accrued Rent Income

Accrued Rent Income – Example With Journal Entries

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

Thursday, January 28, 2021

Category: Accounting

Accounting Blog Entrepreneurship

FreshBooks Review- A Cloud-Based Accounting Software

November 29, 2013

FreshBooks is one of many cloud accounting apps that have entered the market over the past few years. While cloud accounting has not grown as quickly as cloud solutions have … Read More

accounting softwarefreshbooks 5 Comments on FreshBooks Review- A Cloud-Based Accounting Software
Inflow Inventory Review – Is it the Solution Right
Accounting Blog Entrepreneurship

Inflow Inventory Review – Is it the Solution Right

November 29, 2013

A good inventory software is vital. This is especially so for companies that are struggling to manager their inventory levels, that sell physical goods that are fragile or become obsolete … Read More

accounting softwareinFlowInventory 3 Comments on Inflow Inventory Review – Is it the Solution Right
Big Four Audit Firms and Non Audit Services
Accounting Blog

Big Four Audit Firms and Non Audit Services

November 24, 2013

I recently read two articles (here and here) about KPMG and a $100m Capital fund it created. Long story short, KPMG is trying to find a way to diversify its … Read More

Comment on Big Four Audit Firms and Non Audit Services
Small Business Accountant – 6 Areas They Can Help
Accounting Blog Entrepreneurship

Small Business Accountant – 6 Areas They Can Help

November 24, 2013

Most people believe that accountants are only good at keeping books, file a tax return and do some random number crunching here and there . That might be true but … Read More

CAchartered accountantCPA Comment on Small Business Accountant – 6 Areas They Can Help
The Top 5 Open Source ERP Solutions
Accounting Blog

The Top 5 Open Source ERP Solutions

November 6, 2013

All Businesses today, no matter how small or big they, are operating electronically. Some of them are even their systems on the cloud. However, with so many options and different … Read More

Comment on The Top 5 Open Source ERP Solutions
What is ERP Accounting System?
Accounting Blog Entrepreneurship Finance

What is ERP Accounting System?

November 5, 2013

The Enterprise Resource Planning system, commonly referred to as an ERP accounting system, consists of a set of software modules that help businesses improve the information flow between functional departments, … Read More

ERP Comment on What is ERP Accounting System?
A Comparison Of The Top ERP Vendors
Accounting Blog Finance

A Comparison Of The Top ERP Vendors

November 3, 2013

Enterprise Resource Planning (ERP) is vital for a range of back office functions such as supply chain, manufacturing, product development and financial management. ERP is not a new concept and … Read More

Comment on A Comparison Of The Top ERP Vendors

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  • When is Earned Revenue Reported?
  • Debt Free Affirmations – For Each Day of the Month
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  • Cryptocurrency Mining – My Side-hustle Project
  • Contingent Asset Accounting and Analysis
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