Learn Debits and Credits in Under 5 Minutes!
Accounting & FinanceEver felt like accounting speaks a different language, filled with confusing terms like “debits” and “credits”? You’re definitely not alone! […]
Understanding New Rules for ESG Loans and Online Payments (IFRS 9 Update)
IFRSIntroduction: Staying Ahead in Accounting – Key Changes to IFRS 9 You Need to Know The financial landscape is constantly
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IAS 1 vs IFRS 18: What’s Changing in Financial Statement Presentation?
IFRSIntroduction On April 9, 2024, the International Accounting Standards Board (IASB) issued IFRS 18 — a brand-new standard that replaces
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When “Just Showing Up” Gets the Same Rewards as Crushing It
General ArticlesWe’ve all been there. You pour your heart and soul into your work, consistently exceeding expectations, brainstorming innovative solutions, and
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How to Record Cash and Credit Sales Journal Entries
Journal EntryIntroduction Sales transactions are the backbone of any business. Therefore, recording them accurately is essential for maintaining reliable financial records.
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Learn Depreciation in 5 minutes!
Accounting & FinanceWelcome back accountants, weather you are an accountant or still studying to become an accountant, depreciation will be a must
Leases: Understanding the Impact on Liabilities and Financial Reporting
LiabilitiesLeases, a common way for businesses to acquire the use of assets without purchasing them outright, have become increasingly complex
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Contingent Liabilities: The Unseen Risks
LiabilitiesWhile most liabilities are readily identifiable and easily quantifiable, contingent liabilities represent a unique category of potential obligations that are
Accrued Expenses: The Hidden Costs
LiabilitiesAccrued expenses, a crucial component of accounting, represent expenses that have been incurred but not yet paid for. These expenses
Deferred Revenue: The Art of Recognizing Revenue Over Time
LiabilitiesDeferred revenue, a unique type of liability, arises when a company receives payment for a product or service before actually
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