The Daily Horizon

Featured Article

What is revenue expenditure give an example?

A revenue expenditure is an amount that is expensed immediately thereby being matched with revenues of current accounting period. For e.g. carriage on sal...

Read Full Article Browse technology trends

Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

In what order are current assets listed?

liquidity Current assets are usually listed in the order of their liquidity and frequently consist of cash, temporary investments, accounts receivable, in...

What do you need to know before refinancing your mortgage?

9 Things to Know Before You Refinance Your Mortgage. 1 1. Know Your Home’s Equity. The first qualification you will need to refinance is the equity in you...

What is account receivable issues?

Most companies have an accounts receivable policy for when to bill, how much to bill, and when to collect. Failing to follow up on overdue invoices. Writi...

What is depreciation in bookkeeping?

Depreciation is an accounting method of allocating the cost of a tangible or physical asset over its useful life or life expectancy. Depreciation represen...

What decreases with a debit?

A debit decreases the balance and a credit increases the balance. Loss accounts. A debit increases the balance and a credit decreases the balance. Does de...

How many shares can you have in an S corp?

An S corporation can be authorized to issue 50,000 shares, but the boards of directors can decide to give out 10,000 shares instead of 50,000. That means ...

Where do I report insurance proceeds on 1120?

If the insurance payment is in excess of the repair costs, you report the excess as Other income (line 7 of form 1120-H. If the insurance payment is short...

What is trunking used for?

Trunking, a term frequently used in IT and telecommunications, refers to a network configuration that efficiently conveys data between multiple entities w...

Why is it that the revenue and cost figures shown on a standard income statement?

Because recognition and matching principles in financial accounting call for revenues, and the costs associated withproducing those revenues, to be booked...