Accounting articles

Using Balance Sheets In Accounting

Your pension liability can be figured out by subtracting the total amount due to retirees from the money you plan on using to make the pension payments. When you acquire a capital lease for an asset, all the rights and ownership transfer to you. For... Read more

Total Cost Formula

With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. In accounting and business, the breakeven point is the production l... Read more

What Is A Forensic Accountant?

A key component of a robust system of internal controls is proper segregation of duties. Segregation of duties involves separating the tasks of handling assets (cash, inventory, receivables, etc.), recording transactions in books and records and reco... Read more

The Post‐closing Trial Balance

After preparing the financial statement, all the temporary accounts must be closed at the end of accounting period. The accounts which collected information about revenue and expenses for the accounting period are temporary.Closing entries to the gen... Read more

What Is Payroll Accounting

Your online resource to get answers to your product and industry questions. Connect with other professionals in a trusted, secure, environment open to Thomson Reuters customers only. Try our solution finder tool for a tailored set of products and ser... Read more

Leverage Definition

Obviously, the profits of a business with a high degree of both kinds of leverage vary more, everything else remaining the same, than do those of businesses with less operating and financial leverage. Therefore, in deciding what is the optimum level... Read more

Double‐entry Bookkeeping

Putting all this double-entry bookkeeping data together will form a trial balance and the financial statements. Credits add money to accounts, while debits withdraw money from accounts.You should always remember that each side of the equation must ba... Read more