What does FOB mean?

What does FOB mean? FOB is an acronym for "Free On Board", or "Freight On Board", indicates a free port with the destination port name. If a seller offers a price FOB...
Accounts Receivable collection techniques

Steps to Collect Accounts Receivable

It is essential to collect accounts receivable in a timely manner, thereby generating enough cash flow to support company operations. Rapid collection also improves the ability of a company to use its receivables as collateral for loans, since newer receivables qualify for treatment as collateral. Collecting accounts receivable is not just the task of the [...]

What are Accounting Adjusting Entries

What are Accounting Adjusting Entries Adjusting Entries are journal entries that are made at the end of the accounting period, to adjust expenses and revenues to the accounting period where they actually...

Classification of Accounts

Classification of Accounts: The term Account is a record in summarized and classified form of all business transaction that take place between particular person or persons thing or things specified. For example: During...
What is year over year YOY Explained

What is year over year (YOY)? Explained

What is year over year (YOY)? Explained In financial analysis and data analytics, YOY is the acronym for year over year. YOY indicates the change from the comparable amount reported in the...

Why become an Accountant

Why become an Accountant? You are tempted by the profession of public accountant, but you do not dare to cross the threshold? Do you have a dusty image of a man-accountant armed...

Two Types of Assets in Accounting

In accounting, assets are an important part of the balance sheet. The purpose of this article is to define an asset and to present the types of Assets. Definition of Assets The...