Accounting Definitions of Contra

When the total of debits in an account exceeds the total of credits, the account is said to have a net debit balance equal to the difference; when the opposite is true, https://en.wikipedia.org/wiki/Bookkeeping it has a net credit balance. Debit balances are normal...

Income Statements

Purpose of the Income Statement This format only includes variable expenses in the cost of goods sold, and pushes all fixed production costs lower down in the report. This makes it easier to discern the contribution margin on product and service sales, and to...

Gross vs Net Pay

If you believe in the adage, ‘money makes the world go around’, salary is the most important aspect of your job profile. It is an indicator of your position, growth and success in the company and will, in many cases, determine the course of your career. If you wish to...

How Do Accruals Work?

What is accrual accounting in Oracle Apps? This differs from the cash basis of accounting, under which a business recognizes revenue and expenses only when cash is received or paid. Two concepts, or principles, that the https://pl.wikipedia.org/wiki/Z%C5%82oty uses...