RDV

Consulting an accounting professional is advisable when accounting for government grants to ensure proper treatment. Key considerations include the type of grant, conditions, reporting requirements, and applicable accounting standards. Understand the specific requirements of the grant and what accounting methods and practices what is grant accounting are allowed. There are a few things to keep […]

Running a small business comes with its unique set of challenges, and managing finances is often at the forefront. At Continental Accountants CPAs, we understand the intricate financial landscape of small businesses and offer tailored accounting solutions to ensure your financial success. Our team of certified public accountants (CPAs) brings more than 22 years of […]

However, the way how we calculate the depreciation expenses is the same. That means depreciation expenses that should be charged to certain types of assets are high at first and then low subsequently. https://www.bookkeeping-reviews.com/ The declining balance or reducing balance depreciation method considers the value of assets that are largely used or highly contribute to […]

While a company may also possess long-term intangible assets, such as a patent, tangible assets normally are the primary type of fixed asset. That’s because a company needs physical assets to produce its goods and/or services. The major difference between the two is that fixed assets are depreciated, while current assets are not. Both current […]

In accounting software, a general ledger sorts all transaction information through the accounts. Also, it is the primary source for generating the company’s trial balance and financial statements. The ledger’s accuracy is validated by a trial balance, which confirms that the sum of all debit accounts is equal to the sum of all credit accounts. […]