Internal controls for accounts receivable are used to reduce the risk of fraud and error in the accounts receivable process. The purpose of the accounts receivable internal control checklist is to ensure that valid sales invoices are properly recorded and that customers pay promptly.
Internal Control Procedures for Accounts Receivable January 20th, 2017Team
Internal controls for accounts payable are used to reduce the risk of fraud and error in the accounts payable process. The purpose of the internal controls is to ensure that only valid supplier invoices are paid.
Accounts Payable Internal Controls January 17th, 2017Team
The Excel DB function is one of many Excel financial functions, and can be used to calculate the declining balance depreciation of a long term asset. It has the syntax DB (cost, salvage, life, period, month).
The Excel DDB function is one of many Excel financial functions, and can be used to calculate the declining balance depreciation of a long term asset. It has the syntax DDB (cost, salvage, life, period, factor).
By setting the factor parameter to either one or two, the function can be used to calculate either the declining balance depreciation or the double declining balance depreciation.
The bank reconciliation statement journal entries below act as a quick reference, and set out the most commonly encountered situations when dealing with the double entry posting relating to bank reconciliations.
In each case the bank reconciliation journal entries show the debit and credit account together with a brief narrative. For a fuller explanation of journal entries, view our examples section.
Bank Reconciliation Journal Entries November 6th, 2016Team
This growing annuity payment formula FV calculates the initial annuity payment required to provide a given future value FV using a growing annuity. The growing annuity payment formula assumes payments are made at the end of each period for n periods and are growing or declining at a constant rate (g), and a discount rate i is applied.
Growing Annuity Payment Formula FV November 6th, 2016Team
The loan balance annuity formula is used to find the balance outstanding on a loan by calculating the present value of the remaining loan installments. The payments are for the same amount, made at the end of each period, and a discount rate i% is applied.