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What is accounting in mathematics?

Accounting is the process of collecting, measuring, analysing and communicating information to aid decision making within business and other organisations...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

How long does an employer have to keep time cards?

7 years Employers have to keep time and wages records for 7 years. Time and wages records have to be: readily accessible to a Fair Work Inspector (FWI) Ho...

Is preliminary expenses asset or liability?

Also known as pre-operative expenses, preliminary expenses are shown on the asset side of a balance sheet. The portion which is written off from the gross...

What does IRS reference 101 mean?

there is name conflict issue IRS EIN Reference Number 101 means there is name conflict issue. For a Sole Proprietor applicant it could mean you already ha...

What is the message of 1 Timothy?

Overall, the message of 1 Timothy concerns sound teaching, while additional themes include how to deal with false teachers in the church; the responsibili...

What is difference between basic and diluted shares?

Basic shares include the stock held by all shareholders, while fully diluted shares are the total number of shares if the convertible securities of a comp...

How do you know if its a real estate bubble?

How To Spot A Real Estate Bubble In Your Market Study Real Estate Market Prices. Visit local real estate websites to research “comparable” local market da...

How do you record a return of merchandise in accounting?

Record the Sales Return Transaction Debit sales returns and allowances by the selling price. Debit the appropriate tax liability account by the taxes coll...

What is an example of a direct fixed cost?

Direct costs can be fixed costs such as the rent for a production plant. Variable costs vary with the level of production output and can include raw mater...

Why cash is intangible asset?

An intangible asset is an identifiable non-monetary asset without physical substance. It is a non-monetary asset i.e. other than cash and cash equivalents...