Accounting word of the week
We are looking at the word depreciation. Depreciation is the spreading out the original cost over the estimated life of a fixed asset...
Insurance - How do you recognize a loss on an insurance claim when accumulated depreciation is invol
Last week, we discussed on how to record a payment on a claim. We looked at a scenario of when your building caught on fire, and you...
Accounting word of the week
This week we are looking at the word Fixed Asset-To-Equity Capital ratio. This is a computation that indicates whether or not a company...
Insurance - How to recognize a payment on a claim?
One of the risks of having a business, is a chance for a business to have to file a claim with their insurance carrier. Let’s discuss a...
Accounting word of the week
This week we will be looking at the accounting word nonrecurring. Nonrecurring is an income statement event that is either unusual or...
Accounting word of the week
Today, we will be looking at two forms of leases. 1. An operating lease is rental of property between the lessee and lessor for a fee. 2....
Accounting word of the week
Financial analysis is a means for a company to monitor and evaluate a firms financial position, to plan future financing, and to...
Benefits and Costs of FASB ASU:Leases (842)
In February 2016, the Financial Accounting Standards Board (FASB) updated the accounting treatment of Leases. Today, we will highlight...
Accounting word of the week
This week we will be discussing two methods of accounting: 1. Cash method 2. Accrual method The cash method is a method of recogonizing...