Unbilled revenue is an important part of the balance day adjustments process for financial reporting. Our article works through examples with journal entries to help explain.
Category: Tutorials
In particular, during these difficult times, a question we see coming up is how should accrued income from rent be treated? This article will look at the accounting entries and discuss some of the...
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...
A regular question from new clients is do you pay tax on drawings? The simple answer, for most tax jurisdictions, is no. No income tax is due.
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 confirmed by future events. Contingent...
In today's accounting tutorial, the last in our series on balance day adjustments, we will define this type of income and how it fits into the conceptual accounting frameworks. We will then work...