by pay@crispino.us | Sep 26, 2026 | Measurement & Valuation, Terminologies
The estimated value of an asset at the end of its useful life. Used in calculating depreciation. Also called salvage value.
by pay@crispino.us | Sep 24, 2026 | Assets, Chart of Accounts, Terminologies
A temporary account used to track goods bought for resale. At the end of the period, it adjusts into inventory and COGS. Helps monitor supplier activity and inventory turnover.
by pay@crispino.us | Sep 23, 2026 | Chart of Accounts, Expenses, Terminologies
Compensation paid to employees for their services. Usually the largest operating expense for many businesses. Includes base pay but excludes benefits.
by pay@crispino.us | Sep 23, 2026 | Chart of Accounts, Equity, Terminologies
Cumulative net income not distributed as dividends but reinvested in the business. It grows with profits and shrinks with losses or dividend payments. Critical for long-term financing.
by pay@crispino.us | Sep 22, 2026 | Recording & Adjustments, Terminologies
Money received before services are performed or goods are delivered. Treated as a liability until obligations are fulfilled. Common with subscriptions and advance bookings.
