by pay@crispino.us | Nov 1, 2025 | Chart of Accounts, Equity, Terminologies
Sometimes used to track running balances of contributions, withdrawals, and allocations for ease of monitoring. It provides a clear view of how much the owner has taken out or put in during a period. At year-end, balances typically roll into the capital account.
by pay@crispino.us | Nov 1, 2025 | Financial Analysis, Terminologies
The ability of a company to meet short-term obligations. Measured using ratios such as current ratio and quick ratio. High liquidity means stronger financial flexibility.
by pay@crispino.us | Oct 30, 2025 | Cost & Managerial Accounting, Terminologies
A system that assigns expected costs to production for budgeting and performance evaluation. Differences between standard and actual costs create variances. Useful for control and planning.
by pay@crispino.us | Oct 29, 2025 | Accounting Fundamentals, Terminologies
A 12-month accounting period used for financial reporting and tax purposes. It may align with the calendar year or a company-chosen cycle. Many businesses choose fiscal years that reflect seasonal operations.
by pay@crispino.us | Oct 27, 2025 | Accounting Proram, Terminologies
A method of entering multiple transactions at once instead of recording them individually. Saves time when dealing with repetitive entries like payroll or bulk invoices. Useful for high-volume businesses.
by pay@crispino.us | Oct 26, 2025 | Chart of Accounts, Expenses, Terminologies
The systematic allocation of an asset’s cost over its useful life. Reflects wear, tear, and obsolescence. Recorded periodically to match expense with revenue.
