Financial Accounting Principles

Articles

An account will have a credit balance if the business receives a payment, learn how to record and apply credits to invoices for accurate accounting.

Learn why accounts receivable are typically classified as current assets because they're short-term in nature, providing liquidity for businesses.

Discover the key differences between accounts receivable vs deferred revenue, and learn how to manage them effectively in your business.

Learn the reconciliation definition accounting, process, and importance in financial statement matching and error detection.

Learn the basics of T account debit credit, understanding how debits and credits impact financial transactions, and improving accounting skills.

Learn the difference between accumulated depreciation vs depreciation expense, and how they impact financial statements and tax liabilities.

Learn how to accurately calculate and record depreciation expense on balance sheet, ensuring accurate financial reporting and compliance.

Discover if depreciation and amortization is an operating expense, and learn how to accurately classify these financial costs in your business.