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Archive for the Bookkeeping Category

What are the Three Types of Accounts?

Transaction Control The practice or profession of maintaining the financial records of a business, including bookkeeping as well as the preparation of statements concerning the assets, liabilities, and operating results. The definition of accounting is the process of systematically recording and managing financial accounts. When a person […]

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QuickBooks Online: Best Business Accounting Software

If you’re a large enough organization, this is the right accounting software for you. In the early days of small business accounting software, Intuit offered a single version of its popular accounting software QuickBooks. Today, you have QuickBooks Simple Start, QuickBooks Online, cash basis vs accrual basis […]

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The Pros Vs Cons for the “Last in, First Out” Inventory Method

Companies adopt LIFO primarily to lower their income tax liability and to postpone paying taxes, but it also reduces income for financial reporting purposes. Nevertheless, companies are not required to use the same LIFO method for taxation and accounting. For example, a unit LIFO method could be […]

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Bookkeeping, Accounting, and Auditing Clerks : Occupational Outlook Handbook : U.S. Bureau of Labor Statistics

Bookkeeping, Accounting, and Auditing Clerks : Occupational Outlook Handbook : U.S. Bureau of Labor Statistics Unlike other websites, Simple Studies revolutionizes accounting with its bookmark topics, checkpoint questions, test questions and study notes. You can even track your progress with the use of the website’s study dashboard. […]

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