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Is cost of sales same as sales?
Companies will often list on their balance sheets cost of goods sold (COGS) or cost of sales (and sometimes both), leading to confusion about what the two...
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Are dividends recorded on the cash flow statement?
Dividends and Cash Flow Dividend payments are recorded on the cash flow statement in the financing section, because they involve owners and affect cash fl...
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What does it mean to have a balance on your account?
Balancing your account means adding up all of your debits and credits (deposits and withdrawals), then adding the result to your statement’s starting bala...
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How do you write-off intangible assets?
Amortization is the systematic write-off of the cost of an intangible asset to expense. A portion of an intangible asset’s cost is allocated to each accou...
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Which email is used in Korea?
Which email host do Koreans use? Naver, Daum, and Gmail are the most common for personal use in that order. Does Korea have Gmail? But some North Koreans ...
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When should expenses be matched with revenue?
The matching principle, part of accrual accounting, requires that expenses be recognized when obligations are (1) incurred (usually when goods are transfe...
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Why are documents written?
Although there are many explicit purposes for creating a scientific or technical document, there are four general categories: to provide information, to g...
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What is the journal entry for equipment?
A company can purchase office equipment on account and it is the case of purchase of office equipment on account or on credit. The Journal Entry should be...
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Does SAP work with QuickBooks?
Streamline accounting and bookkeeping processes The Tray Platform empowers business users to build SAP ERP + QuickBooks Online integrations rapidly. Techn...
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What is allowance for doubtful receivables?
An allowance for doubtful accounts is a contra account that nets against the total receivables presented on the balance sheet to reflect only the amounts ...
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