Unearned revenue is a liability because it represents a company’s obligation to deliver goods or services in the future.

Description: There are two basic type of accounting methodologies – one is cash accounting and the other is accrual accounting. Both systems have their own benefits. Cash accounting is beneficial for ...

Namita Thapar broke down the difference between cash and accrual accounting for the group, emphasizing that the latter offers a clearer picture of a business's performance. She bluntly stated, ...

Service revenue is reported on the income statement under operating revenues, reflecting earnings from core business ...

Objective To estimate the prevalence of organ damage (damage) and flare and to examine longitudinal associations between flares and subsequent damage accrual, in patients with systemic lupus ...

Ideally, free accounting software can scale to accommodate your business's needs if they change. Make sure to weigh today's costs against tomorrow's growth. Many, or all, of the products featured ...

What market does WiseLayer target and how big is it? WiseLayer sells to mid-sized firms & public companies. More than 100 ...

In his final address as President of ICAI for 2024-25, the author reflects on a transformative year for the profession, ...

David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning.