Accrual accounting is the recording of a financial transaction by a firm at the time a sale takes place, not when the money reaches the bank account. This method allows the firm to account for all sales, cash and credit, in that month’s figures, giving a clearer picture of the financial...
What is the meaning of amortization in accounting? What is fund accounting, and when is it used? Define the accounting equation and explain briefly what it entails. What is accounting break-even point? What is meant by the "accrual method" of accounting?
Financials are the business functions relating to the finance department of an organization and includes modules for financial accounting, subledger accounting, accounting hub, payables and receivables, revenue management, billing, grants, expense management, project management, asset management, joint ventur...
Financials are the business functions relating to the finance department of an organization and includes modules for financial accounting, subledger accounting, accounting hub, payables and receivables, revenue management, billing, grants, expense management, project management, asset management, joint ventur...
What do you understand by a general ledger account? What do you mean by the serial bonds? How to record issuing a bond in accounting journal entry? What do you understand by an uncleared check in accounting? What is the main difference between a bond and a share of stock?
The posting types that are related to inventory accounting and production accounting have been updated. The labels in the InventPosting, Resource, ResourceGroup, and ProductionGroup forms aren't always aligned with the LedgerPostingType labels that are actually used. It's not easy to unde...
The purpose of the closing entry is to reset temporaryaccount balancesto zero on thegeneral ledger, the record-keeping system for a company's financial data. Temporary accounts are used to record accounting activity during a specific period. All revenue and expense accounts must end with a zero...
Basic localization in the following two areas is available:Correspondence of accounts for all new general ledger postings. Functional coexistence of process industries features and Russian country/region context.Additional resourcesBug fixesFor information about the bug fixes included in each of the ...
is "depreciable base," which is the difference between the asset's cost and its salvage value. The depreciable base is divided by the number of years the asset is estimated to be useful, in order to calculate the annual depreciation expense. In each accounting period, this depreciation amount...
Having an automated accounting system is now considered a must-have for larger companies that deal with thousands of transactions a day, but it’s a relatively well-kept secret when it comes… Finance automation that puts you in charge