Recent content by Emly

Yes, depreciation is considered an operating expense. It represents the allocation of the cost of a fixed asset over its useful life and is recorded on the income statement as part of operating expenses. Depreciation helps businesses account for the wear and tear or usage of assets in generating...

Corporate accounting is the process of recording, analyzing, and reporting a company's financial transactions to ensure accurate financial statements and compliance with laws and regulations. It involves tasks like preparing balance sheets, income statements, cash flow statements, budgeting, and...

Financial forecasting is the process of estimating a company's future financial performance based on historical data, market trends, and expected future events. It helps businesses plan for revenues, expenses, and cash flow, guiding decision-making and budgeting. Accurate forecasting is...

Assets not included in a personal property inventory typically include real estate (such as land and buildings), intangible assets (like patents or copyrights), and financial accounts (such as bank accounts, stocks, and retirement funds). The inventory generally focuses on tangible, movable...

Real estate taxes and property taxes are often used interchangeably, but they typically mean the same thing. Both refer to taxes assessed by local governments on real property—land and buildings. These taxes help fund public services like schools, roads, and emergency services. While the terms...

Washington, D.C. is a great place for accountants due to its strong job market, especially in government, nonprofit, and consulting sectors. As the nation's capital, it hosts numerous federal agencies, international organizations, and major firms that require skilled financial professionals. The...

A stipend is a fixed, regular payment given to individuals, often as financial support rather than as wages. It is commonly provided to interns, trainees, researchers, or volunteers to help cover living or travel expenses while they gain experience or contribute to a project. Unlike a salary, a...

PCI compliance refers to following the Payment Card Industry Data Security Standard (PCI DSS), which is a set of security rules designed to protect credit card information during and after a financial transaction. Any business that handles, stores, or transmits cardholder data must comply with...