by Online Tutorial & Training Guide | Nov 12, 2025 | Chart of Accounts, Equity, Terminologies
Represents amounts investors pay above par value when purchasing stock. It reflects extra equity contributions. Often arises in public offerings.
by Online Tutorial & Training Guide | Nov 11, 2025 | Chart of Accounts, Liabilities, Terminologies
Potential obligations that depend on future events, such as lawsuits or guarantees. Recorded if probable and estimable. Disclosed in notes if uncertain.
by Online Tutorial & Training Guide | Nov 10, 2025 | Chart of Accounts, Expenses, Terminologies
Represents reductions in sales revenue due to returned goods or price concessions. A contra-expense account that offsets revenues. Important for tracking customer satisfaction and product quality issues.
by Online Tutorial & Training Guide | Nov 10, 2025 | Measurement & Valuation, Terminologies
The expected period an asset will be productive for business purposes. Used to determine depreciation schedules. Can differ from physical life due to obsolescence.
by Online Tutorial & Training Guide | Nov 8, 2025 | Accounting Proram, Terminologies
A document issued to correct or reduce an existing invoice, such as when goods are returned or an error is found. The software applies credit notes against outstanding balances. Helps maintain accurate receivables.
by Online Tutorial & Training Guide | Nov 8, 2025 | Chart of Accounts, Expenses, Terminologies
Costs of transporting goods to customers or between facilities. Essential in supply chain-heavy industries. May be charged to customers or absorbed by the company.
