What is Deferred Revenue and how does it work?
Reading Time: 5 minutesAdvance payments a business receives for goods or services that will be supplied or performed in the future are referred to as deferred revenue, or unearned income.…
Intangible Assets on Balance Sheet, Goodwill
Reading Time: 7 minutesFixed assets are those assets which are not tangible in nature but has some monetary values and are useful for rather longer period of time. They increase…
Forecasting the Balance Sheet and Schedules: A Step-by-Step Guide
Reading Time: 6 minutesBalance Sheet Forecasting Balance sheet forecasting is an essential part of the overall financial planning, budgetary control and analysis. It gives future prospects of a company’s financial…
Understanding Balance Sheet Elements & Indian Accounting Standards
Reading Time: 6 minutesBalance sheet It would be a balance sheet in nature that represents the major indicator of the financial status of the business, worldwide, especially in India. It…
Book Value: Meaning, Formula,Investor’s perspective
Reading Time: 5 minutesDefinition of Book Value Net or book value refers to the value of the fixed asset or value assigned to an enterprise in the balance sheet. The…
How to Prepare Comprehensive Financial Statements: Evolution of financial Reports
Reading Time: 6 minutesIntroduction A financial statement is an account prepared by a company that reflects the financial operations and health of the firm. In many countries, government agencies as…
Financial Accounting Standards Board (FASB)
Reading Time: 3 minutes FASB is an independent, not-for-profit organization established with a mandate to develop and establish financial accounting and reporting standards for use in the United States. The…
Profit & Loss Statements: What They Reveal About Your Business
Reading Time: 3 minutes A profit and loss, or income statement is one of the most important financial statements any company uses in drawing evaluation conclusions about a firm’s performance.…
Understanding Financial Statements
Reading Time: 4 minutesFinancial statements are the most significant reports to analyze the performance and position of a firm. The four main kinds of statements are a balance sheet, income…
The Golden Rule of the Balance Sheet
Reading Time: 5 minutesThe balance sheet or statement of financial position gives a snapshot view of the financial status of a firm at any point in time by outlining its…
Trial Balance & Adjusted Trial Balance Preparation
Reading Time: 4 minutesThe key tools in the accounting process that ensure all the financial records of the company can be correct and balanced are trial balance and adjusted trial…
A Comprehensive guide to creating an Income Statement
Reading Time: 5 minutesAn income statement is simply known as a profit and loss statement (P&L), one of the most important types of financial statements used in determining a firm’s…
The Impact of Fundraising on a Company’s Balance Sheet and Financial Ratios
Reading Time: 3 minutesWhat is fundraising? Fundraising is defined as the process of soliciting and collecting voluntary contributions of money by engaging people, corporations, charity organizations, or governmental units. Though…