What You Must Know About Balance Sheet Equation

What You Must Know About Balance Sheet Equation The operating part of the income statement discloses information about revenues and expenses which are a direct consequence of normal small business operations. Furthermore, there enrolled agent are regulations stating that treasury stock purchases are limited to the quantity of retained earnings. A business’s quarterly and yearly […]

Unearned revenue

Unearned revenue The most basic example of unearned revenue is that of a magazine subscription. When we register for unearned revenue an annual subscription of our favorite magazine, the revenue received by the company is unearned. Unearned revenue on the other hand is that which has been received but not yet earned (worked for). We […]

Bookkeeping & Accounting Differences

Bookkeeping & Accounting Differences Basic Bookkeeping vs. Full Service Accounting The unearned revenue process primarily records the financial effects of transactions. An important difference between a manual and an electronic accounting system is the former’s latency between the recording of a financial transaction and its posting in the relevant account. This delay, which is absent […]