by Online Tutorial & Training Guide | Oct 28, 2025 | Chart of Accounts, Equity, Terminologies
Represents ownership interest in a corporation. Issued shares grant voting rights and residual claim on profits. Equity increases when stock is sold to investors.
by Online Tutorial & Training Guide | Oct 25, 2025 | Assets, Chart of Accounts, Terminologies
A temporary account used to track goods bought for resale. At the end of the period, it adjusts into inventory and COGS. Helps monitor supplier activity and inventory turnover.
by Online Tutorial & Training Guide | Oct 25, 2025 | Chart of Accounts, Liabilities, Terminologies
A long-term liability secured by real property. Payments typically include both principal and interest. Often broken into current and long-term portions.
by Online Tutorial & Training Guide | Oct 17, 2025 | Chart of Accounts, Expenses, Terminologies
Covers landline, mobile, and data communication costs. Increasingly includes VoIP and internet-based communications. Supports day-to-day operations.
by Online Tutorial & Training Guide | Oct 16, 2025 | Assets, Chart of Accounts, Terminologies
Costs incurred for projects still under development, such as a building not yet finished. This account accumulates expenses until the asset is ready for use. Once complete, the balance is transferred to a fixed asset category.
by Online Tutorial & Training Guide | Oct 15, 2025 | Assets, Chart of Accounts, Terminologies
A contra-asset account estimating the portion of receivables unlikely to be collected. It aligns revenues with probable losses. It prevents overstating assets in financial reports.
