Accrual Vs Deferral Xero accounting

An example of the accrual of revenues is a bond investment’s interest that is earned in December but the money will not be received until a later accounting period. This interest should be recorded as of December 31 with an accrual adjusting entry that debits Interest Receivable and credits Interest Income. An example of an accrual vs deferral expense accrual is the electricity that is used in December where neither the bill nor the payment will be processed until January. The December... Read more | Share it now!

Virtual Meeting on 7th January, 2021

On 7th January evening, we met with our project partners on Zoom platform again. It was Turkish team’s turn for presentations. We talked about İstanbul and water relationship in history and now. We also talked about Day Zero. It means having only 25 liters per person per day. You can not get more. Note: Normally, we consume about 190liters of water in a day per person in Istanbul. Our students İpek and Mücahit experienced Day Zero for a whole day and recorded it. It was a big... Read more | Share it now!

On 7th January evening, we met with our project partners on Zoom platform again. It was Turkish team’s turn for presentations. We talked about İstanbul and water relationship in history and now. We also talked about Day Zero. It means having only 25 liters per person per day. You can not get more. Note: Normally, we consume about 190liters of water in a day per person in Istanbul. Our students İpek and Mücahit experienced Day Zero for a whole day and recorded it. It was a big... Read more | Share it now!

How to Calculate Bad Debt Expense

Content Want More Helpful Articles About Running a Business? Resources for Your Growing Business Direct Write-Off Method Which Method Should You Use? Why Record the Bad Debt Expense? More transparent lines of communication with customers Alternative Methods for Measuring Bad Debt Expense Calculation How to calculate and account for bad debt expense Accountants record bad debt as an expense under Sales, General, and Administrative expenses (SG&A) on the income statement. They argue... Read more | Share it now!