Posts tagged Accumulated Depreciation

The regulators do not permit a business organized as a C-corporation (in the United States) to use cash basis accounting. Instead, these companies must use …

Fixed assets are those assets that are used in a productive capacity, are tangible (have physical substance), are relatively long-lived, and provide future benefit that …

Your business sells products both at retail to consumers and to other businesses. You extend short-term credit to your business customers. Over the years, you …

Accounting records are kept on the accrual basis, except in the case of very small businesses. To accrue means to collect or accumulate. This means …