by pay@crispino.us | Mar 19, 2026 | Assets, Chart of Accounts, Terminologies
An intangible asset arising from business acquisitions, representing value beyond tangible assets, such as brand reputation or customer loyalty. It is only recorded when a purchase occurs. Goodwill may be subject to impairment testing.
by pay@crispino.us | Mar 18, 2026 | Chart of Accounts, Equity, Terminologies
In sole proprietorships, this represents the owner’s initial and ongoing contributions. It reflects investment and retained profits. Balances with drawings or withdrawals.
by pay@crispino.us | Mar 15, 2026 | Chart of Accounts, Equity, Terminologies
Represents ownership interest in a corporation. Issued shares grant voting rights and residual claim on profits. Equity increases when stock is sold to investors.
by pay@crispino.us | Mar 10, 2026 | Chart of Accounts, Equity, Terminologies
Tracks additional funds or assets contributed by the owner during the business’s operation (beyond initial capital). It highlights the reinvestment made by the owner to support growth. This account feeds into Owner’s Capital.
by pay@crispino.us | Mar 10, 2026 | Assets, Chart of Accounts, Terminologies
Cash discounts taken for early payment of supplier invoices. Reduces the overall cost of purchases. An incentive to manage cash efficiently.
by pay@crispino.us | Mar 8, 2026 | Assets, Chart of Accounts, Terminologies
Office desks, chairs, cabinets, and fixtures used in daily operations. Like equipment, they are depreciated. They support operational efficiency.
