Content Best Online Accounting Firms for Small Business Reviews Decimal: Best for project-based businesses Service Providers JK Harris & Company What Is an Accounting Firm? You can contact your bookkeeper anytime to […]

The double declining method (DDB) is a form of accelerated depreciation, where a greater proportion of the total depreciation expense is recognized in the initial stages. https://www.online-accounting.net/ Subsequent results will vary as […]

This has not meant that the last 500 there has been no use for the single entry approach to bookkeeping. As we have seen above, there are certain aspects of single entry […]

Historical cost represents the original cost of the asset when purchased by a company. Historical cost can also include costs (such as delivery and set up) incurred to incorporate an asset into […]

The average cost method produces results that fall somewhere between FIFO and LIFO. Do you routinely analyze your companies, but don’t look at how they account for their inventory? For many companies, […]

Generally speaking, your transactions fall into five account types—assets, liabilities, equity, revenue, and expenses. Individual line items are then broken down into subcategories called accounts. In our ice cream shop example, some […]

This is crucial to generate job estimates that are as close to your actual cost as possible. Process costing is used when the products or services you offer are nearly identical or […]

Mark to market accounting is a practice that involves valuing assets and liabilities based on their current market value rather than their historical cost. Enormous losses reported by financial institutions on sub-prime […]