All of your business transactions are tracked as debits and credits (abbreviated as Dr and Cr, respectively) in your account ledger using a T-account, where debits are recorded on the left-hand side of the “T” and credits on the right-hand side. This is actually where double-entry book...
While “debit” and “credit” may evoke thoughts of everyday banking products likedebit and credit cards, their role is more sophisticated in accounting. Adebit increases assets or expenses and decreases liabilities or equity, showing how your companyuses its resources. On the flip side, acredit...
Dr. Enoch Omololu, CEO of Snappy Rates, says real estate is a great long-term investment. "Diversify your holdings with real estate by either buying physical residential, rental, or commercial properties or investing in real estate investment trusts (REITs), which are traded like stocks...
Credits (CR) Credits always appear on the right side of an accounting ledger. Creditsincreasea liability, revenue, or equity account anddecreasean asset or expense account. Here’s how that might work in real life: Desiree runs a tutoring business and is opening a new location. She secures ...
In acolocation facility, the client company owns all the infrastructure and leases a dedicated space to host it within the facility. In the traditional colocation model, the client company has sole access to the hardware and full responsibility for managing it. This model is ideal for privacy an...
If performing comprehensive disaster recovery testing is outside your budget or capabilities, you can also schedule a “tabletop exercise” walkthrough of the test procedures, though you should be aware that this kind of testing is less likely to reveal anomalies or weaknesses in your DR procedures...
When it comes to investing in the global financial markets, it’s important to have a clear understanding of various financial instruments. One such instrument that may come across your radar is a depositary receipt (DR). But what exactly is a depositary receipt, and how does it work? In ...
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A few theories exist regarding the origin of the abbreviations used fordebit (DR)andcredit (CR)in accounting. Both have Latin roots. An increase in liabilities or shareholders' equity is a credit to the account, notated as "CR." A decrease is a debit, notated as "DR." Bookkeepers enter...
Accounting academic Dr. Robert Kaplan and business executive and theorist Dr. David Norton introduced the balanced scorecard in a 1992Harvard Business Reviewarticle entitled "The Balanced Scorecard—Measures That Drive Performance." Both Kaplan and Norton worked on a year-long study involving 12 top-...