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Stock dividends are paid out as additional shares as fractions per existing shares to the stockholders. Although each account has a normal balance in practice it is possible for any account to have either a debit or a credit balance…

The recent changes and updates in accounting standards aim to harmonize the principles governing inventory valuation, making financial statements more comparable and understandable across different jurisdictions. For companies operating globally, these changes necessitate a thorough understanding of both GAAP and…

With a fixed-rate mortgage, the monthly payments remain the same throughout the loan’s term. However, each time you make a payment, the amount of your payment that goes to the principal differs from the amount that gets applied to interest,…

NACHA files are used to send banks the information necessary for electronic transactions, such as bank account numbers and deposit totals. USLegal has been awarded the TopTenREVIEWS Gold Award 9 years in a row as the most comprehensive and helpful…

More sophisticated accounting reporting tools may be able to automate a company’s average accounts receivable over a given period by factoring in daily ending balances. Make sure the same period is being used for both net credit sales and average…