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It’s probably the most practical financial statement a nonprofit Executive Director or CEO has for making intelligent decisions for their organization. This report will show them which of your activities brought cash into your operation during the period and which expenses ate up large chunks of money. When a board member asks for a cash… Continue reading Understanding a Nonprofit Statement of Activities

For example, if a company sells an asset before the end of its useful life, a higher value can be justified. Typically, companies set a salvage value of zero on assets that are used for a long time, are relatively inexpensive, or if the technology becomes obsolete quickly (5-year-old printer, 4-year-old laptop, etc.). This means… Continue reading Salvage Value Definition, Importance, Depreciation

All the debit balances are posted on the left side of the T-account, whereas the credit amount is posted on the right side. Prime Tech has sold goods worth $1,000,000 to their customer, Grain Agriculture, on a credit basis. This will impact the inventory as well as Grain Agriculture’s personal account with the same amount.… Continue reading Mike Waltz Left His Venmo Friends List Public