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Depreciation Expense and Accumulated Depreciation can be a hard concept for accounting students. It's easy to get confused or struggle to understand what goes where in a journal entry and to keep the...

One of the most confusing chapters in your first accounting class is the bad debts and allowance for doubtful (uncollectible) accounts chapter. Here, we will break it down step by step and provide...

For decades one man's name has appeared as author on scores of accounting textbooks. Who is this shadowy figure who makes accounting students cry? We investigate! (Who says we can't have fun with...

Learning accounting can be a challenge for even the strongest students. Explore these nine tips from an accounting professor on how to make getting an A in accounting much easier. Step 1:...

Adding a QuickBooks Online ProAdvisor certification to your portfolio of skills and certifications is a great way to increase your credibility with potential clients or employers. But the exam can be...

The Statement of Owner's Equity is one of the four major financial statements. The function of the Statement of Owner's Equity is to show changes in the value of equity in a corporation. It also...

The Statement of Shareholders' Equity is one of the four major financial statements. The function of the Statement of Shareholders' Equity is to show changes in the value of equity in a corporation....

What is a Note Receivable? A note receivable is formal payment agreement between two or more people or entities. It is a promissory note that specifies: Who the note is due to (the payee)Who...

What is the Difference Between Accruals and Deferrals in Adjusting Entries? The purpose of adjusting entries is to bring revenues and the associated expenses into the same accounting periods. The...

When a Journal Entry is made to record a transaction, that Journal Entry is then entered (posted) in the accounts being impacted. For example, when rent is paid, in the journal entry Rent Expense is...