Recent content by inshya

A financial statement that clearly classifies equity, liabilities, and assets for simpler analysis is called a categorized balance sheet. Liabilities are classified as either current or long-term, and assets as either current or non-current. Compared to an unclassified balance sheet, this...

The cash flow statement is a critical financial document because it provides insights into a company's liquidity, solvency, and overall cash-generating ability, which cannot be fully understood from the income statement and balance sheet alone.

A balance sheet is a financial statement that summarizes a company's assets, liabilities, and shareholder equity at a specific point in time. It is based on the fundamental accounting equation: Assets = Liabilities + Equity. This statement provides a snapshot of a business's financial position...

A financial commitment that a business must fulfill after more than a year is known as a long-term liability. Long-term loans, bonds payable, leasing commitments, and pension liabilities are a few examples. These commitments, which are shown on the balance sheet apart from short-term (current)...

Tangible assets are physical assets that have a measurable monetary value and a physical form, meaning you can see and touch them

I keep seeing news and rumors about a possible IRS stimulus check in 2025. Is the IRS actually sending out any new stimulus payments this year, or are the only payments related to unclaimed past COVID relief? I’d like to know the official status and whether any new checks have been approved.

A low-level accountant who helps with the examination and verification of a company's records is known as an audit associate. They also aid in providing accuracy, complying with regulations, and spotting mistakes or fraud. The audit associates assist with both internal and external audits and...

Unusual patterns, discrepancies, or mistakes in financial records are typically red flags in an audit. Missing paperwork, significant or inexplicable transactions, account irregularities, odd revenue surges, or frequent financial statement modifications are common causes. Additionally...

No, retained earnings are not an asset; they are a component of shareholder's equity on a company's balance sheet. Retained earnings represent the portion of a company's profits that have been kept (or "retained") rather than paid out as dividends to shareholders. While they are not assets...

A simple general ledger example involves setting up individual accounts for different types of transactions (like Cash, Revenue, and Expenses) and posting entries using a debit/credit system. For instance, if a business receives $1,000$ 1 comma 000 in cash from a sale, the Cash account would be...

The audit process is a systematic examination of an organization's financial records and processes to ensure accuracy and compliance, which involves distinct phases: planning, fieldwork, and reporting. Auditors first plan the audit by defining its scope and assessing risks, then conduct...

Hi everyone, I keep seeing the term tax liability when filing taxes and reading financial articles. I understand it has something to do with the amount of tax you owe, but I’m not fully clear on how it’s calculated or what factors affect it.

I’m looking into Crypto30x.com’s Zeus AI trading system and wanted to see what others think about it. The platform advertises automated trading, real-time market analysis, and up to 30× leverage, but I’m unsure how it performs in real conditions

I’m trying to understand the DSCR Loan Requirements for real estate and business financing. Lenders often look at the Debt Service Coverage Ratio to check whether a property’s income can cover loan payments, but different lenders seem to have different minimum DSCR levels.

I recently came across the term Accounts Payable Turnover Ratio while reviewing financial performance metrics and would like to understand it better. What exactly does the Accounts Payable Turnover Ratio indicate, and how is it calculated? Also, how does a high or low Accounts Payable Turnover...