Accounting for Inventory Purchase, Journal Entries
Accounting for Inventory (Purchase, Journal Entries, Example) Inventory management is one of the important areas to run and manage your … Read more
What is a Disclaimer of Opinion? (Definition, Explanation, Example)
What is a Disclaimer of Opinion? (Definition, Explanation, Example) Definition Disclaimer is when the auditor does not give any opinion … Read more
What Is Idle Time? Definition Example
What Is Idle Time? (Definition, Example, and How to Control) Idle time is when workers are paid for unproductive time … Read more
What Is Goods Received Note
What Is Goods Received Note (Definition, Example, Process, Importance) Goods receive notes/delivery note is prepared by business to document details … Read more
Accounting for Warranty Provision
Accounting for Warranty Provision: Journal Entries and Example “Warranty is an implied or expressed promise of a manufacturer/vendor to a … Read more
Return On Net Operating Assets
Return On Net Operating Assets (Definition, Formula, Examples and Calculations) What is an operating asset? Operating assets are the … Read more
Intimidation Threat to Auditor and Safeguards
Intimidation Threat to Auditor and Related Safeguards An auditor is an independent party that review a company’s financial statements and … Read more
Accounting for Repair and Maintenance (Journal Entry and More)
Accounting for Repair and Maintenance (Journal Entry and More) Repair and maintenance expense is incurred to keep business assets operational, … Read more
How To Record a Journal Entry for An Insurance Claim Received?
How To Record a Journal Entry for An Insurance Claim Received? An insurance policy is purchased to cover the risk … Read more
How to Record Inventory Reserve Journal Entry?
How to Record Inventory Reserve Journal Entry? Inventory reserve is contra account in the business’s balance sheet, and it’s recorded … Read more
