Accounting

This Accounting category will cover various topics on accounting ranging from financial, management, and advance accounting.

How to Become a Chartered Accountant? – Do Chartered Accountants Remain Unemployed?

A chartered accountant (CA) has several career options as it is a highly regarded professional degree. You can become a CA by completing the required educational and work hours and passing the exam. Let’s discuss what career options chartered accountants have and do they remain unemployed. What is a Chartered Accountant (CA)? A Chartered Accountant …

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What is Accounts Receivable Aging? How to Calculate Accounts Receivable Aging?

Accounts receivable aging report is an informative document for a business showing details about the receivables schedule from different clients. Let’s discuss how to calculate accounts receivable aging and how this report can help a business in different types of analysis. What is Accounts Receivable Aging? Accounts receivable aging refers to the time taken to …

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Are Financing Fees Amortized?

Debt financing fee is amortized over the life of the debt under the GAAP rules. The borrower incurs different types of debt issuing or financing costs. Let us discuss what are financing costs and how they should be amortized over the period of the debt instrument. What are Financing Costs? Financing costs refer to the …

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What is a Temporary Account?

A temporary account provides an accumulated balance of a specific account type for one accounting period only. It starts and ends with a zero balance for each accounting period. Let us discuss what is a temporary account, its different types, and its key differences from a permanent account. What is a Temporary Account? A temporary …

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What is a Permanent Account?

A permanent account is an ongoing source of information for an entity. It reflects the carrying balance of a particular account on the balance sheet of an entity at any time. Once created, a permanent account is maintained throughout the life of a business. Its current balance is reconciled periodically to reflect the accumulated balances …

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