Accrual vs Cash Basis Accounting
Cash Basis of Accounting, wherein revenues are reported on the income statement in the period in which cash is received from customers and expenses are reported on the income statement when…
Category: Education
Asset = Liabilities + Owner’s Equity
Asset = Liabilities + Owner’s Equity An Asset is anything you have that has any value to it. Examples would be your home, car, land furniture, etc. The number one…
Bookkeeping vs Accounting
These are both very important in the field of finance. Bookkeeping focuses on record keeping of financial transactions and events; it does not include analysis of the financial statements. Accounting…
