Category: Bookkeeping

Revenue recognition principle Deferred revenue is a liability that represents the future obligation of a deliverer to deliver goods and services, even though the deliverer has already been paid in advance. When the delivery occurs, the deferred revenue account is adjusted or removed, and the income is recognised as revenue. The revenue recognition principle requires…

Impairment of non-financial assets By employing multiple methods, a more accurate and defensible valuation can be achieved, ensuring that the non-financial assets are not undervalued or overlooked in strategic decision-making. Fair value measurement is a critical concept in both accounting and finance, serving as a cornerstone for the valuation of non-financial assets. It represents the…

Accounting Journals Ranking List 2025 Here, we provide an updated list of scholarly, peer-reviewed scopus indexed business, management and accounting journals. A journal is the company’s official book in which all transactions are recorded in chronological order. Although many companies use accounting software nowadays to book journal entries, journals were the predominant method of booking…

Direct File For everything you’ll need to choose the right software and prepare your return, see Get ready to e-file your income tax return. For additional tools, see Income tax filing resource center for additional filing information. In general, file and prepare the final individual income tax return of a deceased person the same way you…

There are several popular online application form software options out there today. These include Google Forms, Jotform, Typeform, Formstack — and the list goes on. You’ll want to make sure that your online application form software meets all your needs, whether they include extensive customization offerings, mobile flexibility, code-free capabilities, or something else. Types of…

Services Under the Matching Principle, the revenue and expenses related to the December services would be recorded in December’s financial statements. In contrast, under Cash Basis Accounting, the transaction would not appear in the books until January when the cash is actually received. From the perspective of a financial analyst, the Matching Principle is invaluable…