Category Archives: Bookkeeping

When combined with the global ConocoPhillips portfolio, I’m confident our assets and people will deliver significant shareholder value over the long term,” said Lee Tillman, Marathon Oil chairman, president and chief executive officer. The BSE SENSEX (also known as the S&P Bombay Stock Exchange Sensitive Index or simply SENSEX) is a free-float market-weighted stock market […]

String class has many built-in methods we often use such as upper, lower, startswith, endswith, replace, etc. If you just use hello without parenthesis it just prints the type of the object (i.e. function). So, in order to call the function, you will have to use the ( ) operator. In Python, you can pass […]

Credits increase liability, revenue, and equity accounts and reduce assets and expenses. An accounting ledger refers to a financial record book where accounting transactions are recorded. A general journal records every business transaction in chronological order—it is the first point of entry into the company’s accounts. The general ledger is the second entry point to […]

This ratio is a snapshot of your company’s overall financial well-being. Conveniently, you get the number of years it will take to repay all your debt. Understanding the Cash Coverage Ratio is crucial because it helps stakeholders assess whether a company generates enough cash from its operations to meet its interest obligations. Cash Equivalents The higher […]

This reduction is recorded at the time of the dividend declaration, not when the dividend is paid. It is a reflection of the company’s decision to return value to shareholders, which decreases the retained earnings and, consequently, the total shareholders’ equity. This decision is strategic, as it balances the need to reward shareholders with the […]

Businesses that experience seasonal fluctuations in demand can use factoring finance to access working capital during the off-seasons. This assessment is crucial as it determines the amount of loan that the business can secure. If the receivables are of high quality and the clients are likely to pay, the business can secure a larger loan. […]

Businesses that experience seasonal fluctuations in demand can use factoring finance to access working capital during the off-seasons. This assessment is crucial as it determines the amount of loan that the business can secure. If the receivables are of high quality and the clients are likely to pay, the business can secure a larger loan. […]

Instead, the controller assumes that the units sold off are from the most recent inventory layer, which is the Year 2 layer. When combined with the $15,000 cost of the base layer, Entwhistle now has an ending inventory valuation of $34,800. Companies that use the dollar-value LIFO method are those that both maintain a large […]

If a company incurs an expense in one period but will not pay the expense until the following period, the expense is recorded as a liability on the company’s balance sheet in the form of an accrued expense. When the expense is paid, it reduces the accrued expense account on the balance sheet and also […]