For the past 52 years, Harold Averkamp (CPA, MBA) hasworked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of […]

On the other hand, liabilities are the total of current liabilities (short-term liabilities) and long-term liabilities. Current liability comprises debts that require repayment within one year, while long-term liabilities are […]

Use the ledger to sort and summarize all of your business transactions to get a clear picture of your finances. Your general ledger gives detailed information on all the transactions […]

Now that we understand the role of MM in credit card transactions, let’s explore some common uses of MM in credit cards. Now that we have a clear understanding of […]

Here, instead of waiting for the customers to pay, one can discount the sales invoices from the lending institution to meet its cash requirements. Unlike some loans, invoice factoring and […]