by pay@crispino.us | Jul 14, 2026 | Other Key Terms, Terminologies
Supporting documents accountants prepare during audits or reporting. They include schedules, reconciliations, and analysis used to verify accounts. Provide evidence and reference for conclusions. by pay@crispino.us | Jul 11, 2026 | Assets, Chart of Accounts, Terminologies
The cost of obtaining the right to operate under a franchise brand. Provides access to trademarks, business models, and marketing support. Amortized over the agreement term. by pay@crispino.us | Jul 8, 2026 | Chart of Accounts, Expenses, Terminologies
Fees incurred for bank services such as account maintenance, wire transfers, or overdrafts. Usually small but recurring. Essential for financial accuracy. by pay@crispino.us | Jul 6, 2026 | Chart of Accounts, Expenses, Terminologies
Shipping costs incurred to bring purchased goods into the business. Included in inventory cost until sold. Helps establish accurate cost of goods. by pay@crispino.us | Jul 5, 2026 | Accounting Proram, Terminologies
Modules that project future financial outcomes based on historical data and assumptions. They help businesses plan budgets, manage cash flow, and prepare for growth. Useful for scenario analysis. by pay@crispino.us | Jul 2, 2026 | Key Accounting Concepts, Terminologies
Requires expenses to be recorded in the same period as the revenues they help generate. This prevents mismatched reporting of costs and income. Essential for accurate net income measurement. by pay@crispino.us | Jun 30, 2026 | Taxes & Regulations, Terminologies
The pricing of goods and services exchanged between divisions of the same company, often across borders. Regulated to prevent tax avoidance. Requires careful documentation. by pay@crispino.us | Jun 29, 2026 | Chart of Accounts, Liabilities, Terminologies
Declared dividends owed to shareholders but not yet distributed. Once declared, they are an obligation until paid. They reduce retained earnings. by pay@crispino.us | Jun 29, 2026 | Accounting Proram, Terminologies
Tracks purchases, depreciation, and disposals of long-term assets like equipment and buildings. Automates depreciation calculations. Ensures compliance with accounting standards. by pay@crispino.us | Jun 26, 2026 | Chart of Accounts, Income, Terminologies
Covers revenues not derived from primary business activities. Examples include gains from asset sales or foreign exchange. Provides supplementary earnings.