What Are Unearned Revenues and How Are They Recorded and Reported?
Unearned revenue, also known as deferred revenue or prepaid revenue, refers to payments that a...
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What Are Prepaid Expenses, and How Are They Recorded in Books?
Prepaid expenses are costs that a business pays in advance for goods or services that it will...
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Cash Basis Accounting vs. Accrual Accounting
Cash basis accounting and accrual accounting are two different methods used to record and report...
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Steps of the Accounting Process
The accounting process involves a series of steps that businesses follow in order to accurately...
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What Are Accounts Receivable and Debtor Aging?
In the normal course of business, management is required to monitor the status of accounts...
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