Bookkeeping

There is no need to know integrals, differentials, or any other complicated mathematics properties and/or equations. Firstly, if the idea of complex math has been a barrier to considering accounting as a career, it’s time to rethink. The everyday tasks in accounting rarely go beyond basic arithmetic, making the field more approachable than you might […]

This account is used to reduce the balance of accounts receivable to reflect the amount that is unlikely to be collected. Another example is the contra inventory account, which is used to write down or collect obsolete inventory. Contra accounts are a type of account used in financial analysis that offsets the balance of another