To illustrate, let’s use the contra asset account Allowance for Doubtful Accounts. Since it is a contra asset account, this […]

Laura is a freelance writer specializing in ecommerce, lifestyle, and SMB content. As a small business owner, she is passionate […]

To help explain what exactly R-squared means, I’m going to tell you about two sandwich shops in my town, Jimmy’s […]

For example, a small company might set a $500 threshold, over which it will depreciate an asset. On the other […]

Replacement cost plays an important role in business decision making because it affects the total cost of a business firm. […]

This means that using a simple profit and loss account and retaining copies of all invoices and receipts (so you […]