General ledger Vs Sub-ledger

Accounting accuracy is the foundation of organizational stability and development and that is why an accountant needs to know the difference between the General ledgers … Read more

What is project accounting?

Expenditure, invoicing, and revenue are only some of the elements at the foundation of project accounting, which is a subset of general accounting. Project administrators … Read more

What is merchandise inventory?

Merchandise Inventory is the term frequently asked. Retailers, wholesalers, and distributors earn money by obtaining items from manufacturers or other suppliers and then marketing, or … Read more

Is retained earnings an asset?

It is the most frequent question being asked by accounting learners, “Is retained earnings an asset?” Typically, retained earnings reflect a corporation’s earnings from its … Read more

Asset vs. Expense

For an effective business management, it’s necessary to understand asset vs. expense. So, If you have started up a business or already have one, you … Read more

Statement of owner’s equity

Statement of owner’s equity help to understand the current wealth owned by shareholders/owners. The movement of balance in the statement indicates whether the business has … Read more

Accounting for inventory

Accounting for inventory involves different items like accounting for purchase, accounting for work in process, accounting for finished goods etc. Let’s go through each of … Read more