George Demos Accounting

You also need to make sure there is no form of fraud taking place. Some self-employed hairdressers choose to rent a chair in a beauty salon. If this is you, then you can claim the cost back as a business expense. Not only can you include the cost of their fees as a...

Long-Term Liabilities Examples, Definition and List

The one year cutoff is usually the standard definition for Long-Term Liabilities (Non-Current Liabilities). That’s because most companies have an operating cycle shorter than one year. However, the classification is slightly different for companies whose operating...

How to Calculate Retained Earnings Formula and Examples

Since this account is more closely related to revenue than to expenses, it is a credit. When companies declare dividends, the amount is deducted from their retained earnings. Therefore, the more often a company pays dividends to its shareholders, the more its retained...

What are accounts receivable?

But, if you don’t understand what you are doing this may be the time to consult the online help desk of the software you are using, or an experienced accountant. Keeping track of individual transactions by customers is critical as this helps you easily keep a running...

Capitalized Interest: Definition and Example

Incidental maintenance and repairs are not treated as improvements under this paragraph (d)(3). Except as otherwise provided, methods of accounting and other computations under §§ 1.263A–8 through 1.263A–15 are applied on a taxpayer, as opposed to a separate and...