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Other Basic Accounting

Other Basic Accounting

All Depreciation Methods for Fixed Asset | Non-Current Asset

All Depreciation Methods for Fixed Asset | Non-Current Asset    After you read this article, you will know all depreciation methods. There are many depreciation methods such as straight-line, declining-balance, double declining balance, units-of-production and sum-of-the-years’ digits. Each depreciation method that can be used is based on actual physical usage or nature of the fixed asset. Example 1 Assume that

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Chart of Account for Merchandising or Import and Export Company

Chart of Account for Merchandising or Import and Export Company Chart of Account is important process to record financial transactions and show financial statements. Below are charts of account for merchandising or import and export company. Chart of Account for Income Statement INCOME Sale Income Sale-Cars Sale- Computers Sale –Other items Sale Discount COST OF GOODS SOLD COGS -Cars COGS

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