Category Archives: Bookkeeping

Unearned Revenue: What It Is, How It Is Recorded and Reported

ContentWhen should a company recognize unearned revenue?Unearned Revenue (Sales) VideoWhat is the accounting entry for unearned revenue?Definition of Unearned IncomeUnearned Revenue: What It Is, How It Is Recorded and ReportedDefinition of Unearned Revenue in AccountingWhat Is Unearned Revenue and How to Account for ItThis includes collection probability, which means that the company must be able […]

Accounting 101 Basics of Long Term Liability Chron com

ContentCurrent & Long-Term Liabilities OverviewImportance of Long-Term Liabilities on the Balance SheetLong Term Liabilities vs Long Term DebtWhere to Put the Value of a New Acquisiton on a Balance SheetThe Difference in Notes Payable Vs. Long-Term DebtThey should be listed separately on the balance sheet because these liabilities must be covered with current assets. Current […]

What to do After You Get Your Exam Results UCAS Clearing

Sometimes things don’t go to plan, and you could find that your UCAS predicted grades are lower than those asked for by your preferred universities. In this article, we’ll tell you what you can do to get through this challenging time and come out the other side. Universities can’t make offers through adjustment before results […]

Gross Profit Ratio Meaning, Formula, Calculation, Examples

ContentWhat is the definition of gross profit ratio?Related ArticlesEverything You Need To Master Financial ModelingUnderstanding the Gross Margin RatioA low gross margin ratio does not necessarily indicate a poorly performing company. It is important to compare ratios between companies in the same industry rather than comparing them across industries. Generally, a higher gross profit ratio […]

Accounting Definitions of Contra-Revenues vs Expenses

ContentFinancial RatiosContra AssetContra Account Journal Entry:Examples of Contra Asset AccountsWhat is a Contra Account?Contra Account-Meaning,Example,Recording Contra Account (Commerce Achiever)Expenses are the costs of doing business, but not all costs are expenses. In accounting terms, an expense is a cost incurred to produce revenue reported on the income statement. If you buy a pair of shoes from […]