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249 Answered Questions for the topic Financial Accounting

Financial Accounting

04/23/19

What is the difference between revenue, income, and gain?

Financial Accounting

04/23/19

How does revenue affect the balance sheet?

Financial Accounting Accounting Calculation

04/22/19

Dealing with fractions of a penny?

If my car insurance was £1200.01 per year, I could end up being charged £100 + 1/12p per month. I know that's not how it works, the extra penny is kept whole and goes on a specific month... more
Financial Accounting Accounting Financial Literacy

04/22/19

Is the blockchain similar to double-entry book-keeping?

As far as I know, blockchains keeps transaction records from the beginning of time. This lets the blockchain retain a history of traceable transactions so it can maintain validity. Double-entry... more
Financial Accounting

04/21/19

What is the current ratio?

Financial Accounting

04/21/19

Is income tax an expense or liability?

Financial Accounting

04/21/19

Where is a contingent liability recorded?

Financial Accounting

04/21/19

What is retained earnings?

Financial Accounting

04/21/19

What is the operating cycle?

Financial Accounting

04/21/19

What is the difference between stocks and bonds?

Financial Accounting

04/19/19

What is the accrual basis of accounting?

Financial Accounting

04/18/19

What is cash from operating activities?

Financial Accounting

04/16/19

How do you amortize goodwill?

Financial Accounting

04/15/19

What is financial reporting?

Financial Accounting

04/15/19

What are accrued expenses and when are they recorded?

Financial Accounting Accounting Acumatica

04/15/19

Timecard issues?

I am trying to setup time cards for projects and am running into a problem. I want the employee to enter their time, submit their time card, the supervisor to approve the time card and then... more
Financial Accounting Accounting Taxes

04/15/19

When starting a small business, how does one properly record "seed inventory"?

Let's assume someone wanted to start a small, simple business. They go through all of the paperwork to get an LLC, they set up a business checking account and they are ready to go. Such an... more
Financial Accounting Accounting Loans

04/13/19

Verification of student loan amounts?

I consolidated my student loan debt with FedLoan a year or two after graduation. Is there an easy way to verify that my current balances are accurate? Is this something an accountant would handle,... more
Financial Accounting

04/13/19

What principles of accounting?

Financial Accounting Accounting Income Tax

04/12/19

Deducting interest on a loan to repair a rental property?

I own and rent out an apartment in a building that needs extensive repairs. The body corporate has broken the levy for the repairs into six payments. For the first three payments, last tax year,... more
Financial Accounting Accounting Finance

04/10/19

Operating cashflow

The new drug is expected to be a block-buster, which will help to increase the company’s marketshare and the sales are expected to be $18 million in the first year. The sales revenue generated from... more
Financial Accounting

04/10/19

What is a contingent liability?

Financial Accounting Finance

04/09/19

Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes from deposits and how much comes from interest? 

Periodic Deposit: $? at the end of every three monthsRate: 8.25% compounded quarterlyTime: 40 yearsFinancial Goal: $1,000,000

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