Bookkeeping

What are the Three Types of Accounts?

What are the Three Types of Accounts?

Cash balances are checked by obtaining statements from the bank. Accounts receivable are confirmed by asking customers to verify the balances owed. For inventory, the accountants check purchase orders and receipts, and physically count the raw materi...
Understanding a Balance sheet

Understanding a Balance sheet

The bottom line on the income statement is net income, which interacts with the balance sheet's retained earnings account within shareholders' equity. At the end of each period, a company's net income -- its profit or loss -- is transferred to the ba...
Average Total Assets

Average Total Assets

These investments might include things such as building facilities, land, machinery and fleet vehicles. Managers and analysts use the return on assets ratio as a measure of performance. Comparisons between industrywide and internal prior year ratios ...
Days Sales Of Inventory – DSI Definition
Total Cost in Economics: Definition & Formula