Below is a portion of Exxon Mobil Corporation’s (XOM) quarterly balance sheet from Sept. 30, 2018. A balance sheet must always balance; therefore, this equation should always be true. It is important to note that the preceding…

Liabilities are a vital aspect of a company because they are used to finance operations and pay for large expansions. For example, in most cases, if a wine supplier sells a case of wine to…

Contra liability, equity, and revenue accounts have natural debit balances. These three types of contra accounts are used to reduce liabilities, equity, and revenue which all have natural credit balances. Therefore, for these three, the…

A key characteristic of the contribution margin is that it remains fixed on a per unit basis irrespective of the number of units manufactured or sold. On the other hand, the net profit per unit…

Keeping good records ensures that you have accurate financial statements and that you can assess how your business is doing at any time. Keeping track of your records means that you claim all expenses that…

It’s relatively easy for someone to invest less to avoid a wealth tax, for example. It’s much harder for someone to pull up stakes and move their home to avoid a property tax. This difference…

When filling in your self-assessment, your accountant will be able to identify every form and piece of evidence you will need to complete the tax evaluation. They will ensure that your totals are correct and…

It comes from OOP and hybrid languages that have become OOP and were before procedual have now the same goal to keep repeating the code you build with a model/template/class/object hence why they adapt this…