Accounting

Process Costing [Guideline]

Process costing is related to a continuous & uninterrupted process of production of the same or similar goods, for instance, chemical production and oil refining. Hence the items is uniform, there is no need or require to determine the costs of different groups of goods and each and every processing …

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How To Account Vendor Prepaid Expenses and Deposits

Vendor Prepaid and Deposit Expenses are two common accounts that could be easily slipped and ignored among 100 of daily accounting tasks. You want to take extra precautions about both of the accounts, or your book won’t be as correct as it is expected. Vendor deposit is organization’s investigate that …

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What Is Journal Entry For Factoring Of Accounts Receivable?

What Is Journal Entry For Factoring Of Accounts Receivable?

Hence my post about Receivable Factoring Guide, many of you people asked me a simple question; “what is journal – entry for factoring of accounts receivable?” To sum-up the factoring procedure; when factoring accounts receivable, the receivables are sold to a finance organization. The factor purchase the accounts receivable at a …

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Accounting for Business Acquisition Using Purchase Method

Accounting for Business Purchase Acquisition

In detail, a business acquisition, from the accounting viewpoint, is a transaction in which both the acquiring & acquired organization are still left standing as separate entities at the end of the transaction. If the acquiring organization spreads the acquisition cost over the assets being bought at their fair market …

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