Introductions often create lasting first impressions. Make sure to act with proper etiquette when you meet someone for the first time and whenever you introduce…
A clearly defined hierarchy of authority within an office allows people to understand and perform their roles effectively. Supervisors and employees alike must practice proper…
A few decades ago, the rules of business dress were simple: business suits for men and women. In recent years, the dress codes in many…
Success is within your grasp. Professional etiquette isn’t just about dress codes and business cards—it’s about getting ahead. Regardless of your specific industry or career,…
Accounting managers have a degree of freedom in choosing how to account for certain items and transactions. This section discusses the most significant areas of…
Income Sales, also known as revenues, represents all income from sales of the company’s products and/or services. Gross sales: Gross sales is the sum of all sales…
Owners’ equity represents the excess of total assets less liabilities. It consists of four components: capital stock, additional paid-in capital, retained earnings, and minority interest. Capital…
Like assets, liabilities can be either current or long-term. Current Liabilities Current liabilities are those that are due or expected to be paid within the next 12 months.…
Assets include both current assets and long-term assets. Current Assets Current assets are those assets expected to be realized (converted to cash) within the next 12 months.…
Financial accounting is categorized into four basic elements: assets, liabilities and owners’ equity, revenues, and expenses (each of which is explained below). Assets and expenses are represented by net debits,…