On the other hand, trade payables are the money owed to vendors for inventory like supplies, business materials, etc. What is the difference between accounts receivable and accounts payable? Accounts payables is the money a business owes its creditors, while accounts receivables is the money owed...
Whether or not your factored receivables are subject to tax can be difficult to determine, so our advice is to consult a tax professional with expertise in this area. The IRS will review your situation in an effort to ensure that there is no attempt to use invoice factoring to transfer in...
At that moment, you have an unconditional right to a payment and not a contract asset of any kind. Also, you have to recognize revenue over time for these remaining 3 months. So what is your journal entry? Debit Trade receivables: CU 100 000– because the unconditional right to a payment...
CGST is the final category of GST. It’s a tax levied on intrastate supplies of goods and services by the central government, and it is governed by the CGST Act. Since SGST falls under intrastate supply, it is levied in the same way, but it is now regulated by the state government. ...
Contingent liabilities (obligations stemming from warranties or lawsuits that the company will likely have to pay and can be reasonably estimated) Mortgages payable and other long-term debt Contingent Liabilities Until a liability is probable and reasonably estimated, it is contingent. Generally accepted...
Your company is paying slowly to its suppliers if its accounts payable turnover ratio falls relative to the previous period. A falling trend in the accounts payable turnover ratio may indicate that your company is not able to pay its short-term debt. In other words, it is facing a financia...
Scisparc pattern recognition tool provides the execution environment for running the Three Outside Up or Down recognition and other technical functions against Scisparc. Scisparc value trend is the prevailing direction of the price over some defined period of time. The concept of trend is an ...
Now that we’ve covered the other major features in a health insurance plan, let’s talk about coinsurance. Coinsurance is the percentage of costs the consumer is responsible for after hitting the deductible. Like the copayment, coinsurance is one of the ways the consumer and the insurance com...
Inventory, Accounts Receivable, Marketable Securities, Prepaid Expenses, and Other Liquid Assets. However, other current asset accounts are specific to industries and businesses, such as Non-Trade Receivables, Restricted Cash, Net Receivables, or Current Deferred Assets. ...
Subordinated debt is any debt thatfalls under, or behind, senior debt. However, subordinated debt does have priority over preferred and common equity. Examples of subordinated debt includemezzanine debt, which is debt that also includes an investment. Additionally, asset-backed securities generally...