adminOffice Supplies: Assets, Liabilities, or Expenses? Copy paper, toner cartridges, and stationery items can be viewed as assets because they are used in the normal course of business and can be used again. Likewise, miscellaneous desk supplies, such as pens, pencils, and paperclips, can be viewed as an asset because they are typically used multiple … Read more
Net Purchases In Accounting Net purchases in accounting refer to the total value of goods and services purchased by a business, minus any discounts or returns. This figure is used to determine the amount of expenditure the company has made during a given period. Purchases are recorded in the company’s books of accounts at the … Read more
Is The Wages Expense Account An Asset, Liability, or Equity? The wage expense account is not the assets, liability, or equity. It is the expense account on the income statement. This expense is typically recorded in the expense portion of the income statement and may include the payroll taxes and benefits paid to employees. Such … Read more
Is Quickbooks Certification Worth It? Gaining QuickBooks certification provides individuals with the opportunity to demonstrate their proficiency in the software and become recognized experts in the field. To achieve certification, applicants are required to pass an examination that covers QuickBooks features, functions, and tasks. The test includes questions about topics such as creating and managing … Read more
Is Economics Degree Harder Than Accounting? Are you considering a career in accounting or economics, but can’t decide which degree to pursue? Have you heard that one is harder than the other, but don’t know which one? Accounting and economics require different types of knowledge and skill sets. Economics majors focus on macroeconomics, international economics, … Read more
Is Depreciation Expenses A Fixed Or Variable Cost? Depreciation is a non-cash operating activity that is used to systematically allocate an asset’s depreciable amount over its useful life. The depreciable amount is the asset’s purchase cost minus its salvage value or other revaluation amounts. Depreciation is quantified using accounting principles and assumptions based on the … Read more
Is Depreciation Expenses A Direct Or Indirect Cost? Depreciation is a decrease in the value of an asset over time, caused by a variety of factors, and accounted for through estimates of the asset’s useful life. This decrease in value is the result of use, wear and tear, obsolescence, or unfavorable market conditions. Depreciation is … Read more
Is Accounting Harder Than Nursing? Is Accounting Harder Than Nursing? It’s a question that has been asked countless times, and the answer is not always easy to determine. Both professions require hard work and dedication, but which one requires more of it? Accounting and nursing are both respected professions that require an immense amount of … Read more
Is Accounting Fun Or A Boring Job? Reasons To Love Accounting Job When someone mentions accounting, most people think of a boring job where you’re stuck in an office crunching numbers. However, the world of accounting is so much more than that! Accountants are the financial superheroes of our modern world – without them, no … Read more
If The Irs Says, “We Scheduled Your Payment To Be Mailed On Friday,” When Will I Get It? Have you ever waited anxiously for a payment that the IRS said was scheduled to be sent on Friday? If so, you are probably wondering when that payment will arrive in your mailbox. Many of us have … Read more