The cash and accruals basis of accounting are two different methods of preparing financial statements. The conversion from cash basis to accrual basis can be carried out using cash to accrual conversion formulas.
Last modified November 11th, 2019
Bookkeeping Basics
Accrued and Deferred Income and Expenditure Journals
The accrued and deferred income and expenditure journal entries below act as a quick reference, and set out the most commonly encountered situations when dealing with the double entry posting of accrual and deferral transactions.
In each case the journal entries show the debit and credit account together with a brief narrative.
Last modified November 26th, 2019
Accruals and Deferrals
Royalties in Accounting
Adjusting Entries Examples
The adjusting journal entries below act as a quick reference, and set out the most commonly encountered situations when dealing with the double entry posting of adjusting entry transactions.
In each case the journal entries show the debit and credit account together with a brief narrative.
Last modified November 12th, 2019
Balancing off Accounts
Cash Book in Accounting
Bookkeeping Journal in Accounting
Capital Receipts vs Revenue Receipts
Capital receipts are those which are normally non-recurring and either increase a liability account or decrease an asset account. Revenue receipts are usually recurring and are part of the normal trading operations of the business, such as the sale of goods and services.
Last modified December 17th, 2019
Relationship Between Financial Statements
The four main financial statements are the income statement, statement of retained earnings, balance sheet, and cash flow statement. All four statements are interrelated and allow the user to more fully understand the financial performance of the business through the analysis of its financial statements.
Last modified July 16th, 2019
Accounting Internal Controls
