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.
by Online Tutorial & Training Guide | Oct 2, 2025 | Assets, Chart of Accounts, Terminologies
Assets held for more than a year, such as stocks, bonds, or real estate. They are not intended for quick liquidation. Used for strategic growth or income generation.
by Online Tutorial & Training Guide | Sep 22, 2025 | Assets, Chart of Accounts, Terminologies
The cost of obtaining the right to operate under a franchise brand. Provides access to trademarks, business models, and marketing support. Amortized over the agreement term.
by Online Tutorial & Training Guide | Sep 13, 2025 | Assets, Chart of Accounts, Terminologies
Represents reductions in purchases when goods are returned or discounts are received for defective merchandise. It is a contra-account to Purchases. Provides insights into vendor reliability.
