Expense accounts, on the other hand, represent the resources used to generate income. Furthermore, both the income and expenses are recorded in the statement of activities. Fiduciary accounting is Accounting For Architects the branch of accountancy that is related to the management of funds in trusts. This branch is mainly concerned with the trustee communicating […]
Pay homage to the happy couple’s favorite city—or the one where they exchanged vows—with this set of four stemless wine glasses. Here, an iconic city skyline is artfully etched into each glass so they can gaze upon it as they enjoy a glass of wine. Stuck when shopping for a great third anniversary gift for […]
The Principle of Accrual states that revenues and expenses should be recognized when they are earned or incurred, not necessarily when cash changes hands. For example, if a service is provided in December but paid for in January, the revenue gets recorded in December’s accounts. This principle aligns earnings with related expenses within the same […]
