Is Bookkeeping Hard? — Blog Hub

Bookkeeping Jobs: Disappearing or Evolving with Technology? Many hold advanced degrees, such as MBAs with accounting or finance concentrations, or they have Master of Accountancy degrees. To sit for the Certified Public Accountant, or CPA exam, which is a common goal of many accountants, you must have a minimum of 150 postsecondary education hours. This…

Accrual Accounting Definition & Example

Financial accounting is the process of recording, summarizing and reporting the myriad of a company’s transactions to provide an accurate picture of its financial position. Revenue recognition is a generally accepted accounting principle (GAAP) that identifies the specific conditions in which revenue is recognized. Statements of Financial Accounting Standards were published by the Financial Accounting…

Bad Debts and Doubtful Debts

Bad Debts and Doubtful Debts IMPACT OF THE BAD DEBT EXPENSE ON YOUR FINANCIAL STATEMENTS When accountants decide to use a different rate for each age category of receivables, they prepare an aging schedule. An aging schedule classifies accounts receivable according to how long they have been outstanding and uses a different uncollectibility percentage rate…