What Are Contra-Assets: Understanding Their Role in Bookkeeping

For starters, accounting software platforms like QuickBooks or Xero offer functionalities tailored to track these accounts precisely, complete with automated entries for common transactions like depreciation or returns. To keep a finger on the pulse of your contra accounts, you might also consider dashboards and reporting tools that offer real-time insights into these critical financial …

What is Amortization Expense? The Difference Between Amortization and Depreciation

Dreamzone divided the purchase price by the useful life to amortize the patent’s cost. After the interest-only period ends, the borrower is required to make principal and interest payments for the remainder of the loan term. Negative amortization occurs when the borrower’s payment is less than the interest charged on the loan. As a result, …

The Missing Piece ~ The Spiritual Malady Alcoholics Anonymous

I became willing to follow the spiritual malady AA’s suggestions. After so many years of relapse, I now accepted that I was suffering from a “hopeless condition of mind and body.” (BB p.20). There are as many different definitions of what spirituality means as there are alcoholics in recovery. A spiritual awakening in recovery is a very …

Powerless over alcohol? Page 2 SoberRecovery : Alcoholism Drug Addiction Help and Information

The Big Book explains that this step is vital for spiritual progress, as keeping secrets fuels shame and blocks us from true freedom. Sharing these truths with someone we trust helps us release the emotional weight we’ve carried. It’s not about being judged—it’s about getting honest and breaking the cycle of isolation. Step 3 isn’t …

How To Build A Better Advisory Firm Chart Of Accounts

However, less finance-savvy people might confuse them with actual bank accounts. We’ll show you how to strategically structure withdrawals to optimize client’s cash flow and minimize unnecessary tax burdens. Conversely, if the owner withdraws money from the business, it is recorded as an increase to the “Owner Withdrawals” Equity Account, along with a decrease to …

Retained Earnings: Entries and Statements Financial Accounting

Assets, such as cash and inventory, typically have debit balances, while liabilities, like Accounts Payable, have credit balances. Assets and expenses have natural debit balances, while liabilities and revenues have natural credit balances. A normal balance is a fundamental concept in accounting that determines whether an account has a debit or credit balance. In accounting, …

5 Tips to Make Global Teams Work

Doing so canhelp your team develop resiliency and foster a culture of continuousimprovement and adaptability. Encourage team members to communicate often and to share ideas andsolutions. Create a safe space where team members can voice theiropinions, and act on feedback when appropriate. They will be more willing to take risks and trynew approaches, even if …

Global teams: What is a global team and its benefits?

For example, Apple Inc. has operations in markets literally across the globe, including North America, South America, Europe, Africa, and Asia. Having team members that reside in the market they’re serving can be a huge advantage. With a global team, companies can tune in to local markets and ensure their marketing strategies are optimally effective. …