What is a general ledger number?
The general ledger is an accounting document that provides a general overview of an organization’s financial transactions. An account, or general ledger (...
Knowledge Base
Latest insights and tutorials from the The Daily Horizon team.
What is a collection of spreadsheets called?
Each page is called a worksheet, and a collection of one or more worksheets is called a workbook (which is also sometimes called a spreadsheet file). … Wh...
Read More →What is AAT qualification equivalent to?
AAT: You can then go straight to AAT, which will provide you with the further skills and knowledge needed to become an AAT Accountant (MAAT). This qualifi...
Read More →What is a loan modification on a mortgage?
A mortgage loan modification is a change in your loan terms. The modification is a type of loss mitigation. Modifications may involve extending the number...
Read More →What are notes to the consolidated financial statements?
Whenever a company sells a subsidiary or other affiliate or discontinues its operations, a note to the financial statements regarding this transaction app...
Read More →What is difference between tax and duty?
Tax is a financial obligation which is to be paid to the government compulsorily. Duty is a fee payable to the government on the manufacture and import/ex...
Read More →How do you manage funding gaps?
Here are six simple steps you can take to manage a short-term cash flow gap….How to manage a short-term cash flow gap Know your numbers. The sooner you sp...
Read More →Why is interest received a credit?
Interest income is credited to recognize the income. It is an income amount, hence credited when recognized. In some cases, interests are not received unt...
Read More →What is statutory and regulatory reporting?
Statutory returns – any return required by statute. Regulatory returns – any return required/requested by a supervisory body. An example of a statutory re...
Read More →Why is the Feast of the Assumption on August 15?
On August 15, Catholics worldwide mark the Virgin Mary being brought into heaven with a feast, known as the Feast of the Assumption. John of Damascus wrot...
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