Notes to Financial Statements are literally written notes. It is a letter or written message about financial statements. Notes are written It is for the readers to understand a particular matter better. The purpose of notes to financial statements is to let the statements or documents function alone. For instance, the sticky notes on a …
How to improve budgeting and forecasting is an important factor in company success. Successful companies are mostly determined by net income. Correct budgeting and forecasting will give the company the desired net income or even more. Failure to do so will result in low income or a net loss. Knowing the future expenses will …
Rule of Debit: Increase in Asset Decrease in Liability Decrease in Capital Decrease in Income Increase in Expense Rule of Credit: Decrease in Asset Increase in Liability Increase in Capital Increase in Income Decrease in Expense What is double-entry accounting? Double-entry accounting is a system used to record transactions, it composes of date of transaction, …