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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: Personal Finance

You Need a Budget (YNAB) Budgeting Software Review
Blog Personal Finance

You Need a Budget (YNAB) Budgeting Software Review

December 11, 2013

You Need A Budget (YNAB) is one of the most user friendly accounting programs on the market. It has been around for almost a decade now and it has helped … Read More

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Converting a Traditional IRA to a Roth IRA
Blog Personal Finance

Converting a Traditional IRA to a Roth IRA

November 29, 2013

Converting from a traditional IRA to a Roth IRA seems like a simple idea at first. Simply transfer the money from your traditional IRA to your Roth IRA, pay some … Read More

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Read the Fine Print within your Guaranteed Life Insurance
Blog Personal Finance

Read the Fine Print within your Guaranteed Life Insurance

November 29, 2013

People who wait too long to buy life insurance sometimes end up being driven to the only type of insurance available to them during a crisis: the guaranteed life insurance. … Read More

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Strategize Your Retirement and Prepare Financially
Blog Personal Finance

Strategize Your Retirement and Prepare Financially

October 3, 2013

The road to retirement is a long one. When you’re young, retirement rarely comes to mind since it seems so far away. This gives people an opportunity not to start … Read More

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A Basic Buying Guide For Investing In Gold
Blog Personal Finance

A Basic Buying Guide For Investing In Gold

February 11, 2013

Some people may see coin collecting as a rather boring hobby, but with more and more people starting to invest in gold and silver, coin collecting has become a worthwhile … Read More

Comment on A Basic Buying Guide For Investing In Gold
4 Simple Ways to Bring Your Finances Under Control Today
Blog Personal Finance

4 Simple Ways to Bring Your Finances Under Control Today

January 16, 2013

With the global economy still struggling, some of us are running short of cash before pay-day arrives. However, there is hope. Until the economy fully recovers so we can all … Read More

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Expenses to cut when you are in debt
Blog Personal Finance

Expenses to cut when you are in debt

January 16, 2013

If you’re someone who is debt free or close to it, then you’re lucky! For everyone else, debt is just a headache. The question is what can you do, today? … Read More

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Recent Posts

  • Accrued Rent Income – Example With Journal Entries
  • 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
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