by Majestic | Aug 10, 2023 | Bookkeeping
Encumbrance accounting involves recording encumbrances in the general ledger when the organization is certain about the time and amount of the anticipated expense. This is done before creating and collecting the underlying documents, such as purchase requisitions and...
by Majestic | May 17, 2023 | Bookkeeping
Primary expenses are incurred during the process of earning revenue from the primary activity of the business. Expenses include the cost of goods sold (COGS), selling, general and administrative expenses (SG&A), depreciation or amortization,...
by Majestic | May 17, 2023 | Bookkeeping
Primary expenses are incurred during the process of earning revenue from the primary activity of the business. Expenses include the cost of goods sold (COGS), selling, general and administrative expenses (SG&A), depreciation or amortization,...
by Majestic | Feb 6, 2023 | Bookkeeping
As a result, from an investor’s perspective, debt is the least risky investment. For businesses, it is the cheapest source of financing because interest payments are tax-deductible, and debt generally provides a lower return to investors. A statement of retained...
by Majestic | Nov 18, 2022 | Bookkeeping
While recordkeeping is concerned with acquiring and preserving data, most accounting is concerned with using that data to make concrete decisions or provide advice. Accounting is the practice of keeping track of a company’s financial transactions. If you already...
by Majestic | Sep 15, 2022 | Bookkeeping
However, these challenges also present opportunities for firms to innovate and adapt, further cementing their positions at the top of the industry. EY encourages continuous learning with their ‘EY Badges’ program, where employees earn digital credentials in...