They offer strategic advice to ensure optimal utilization of financial resources, helping businesses meet both short-term and long-term objectives. It involves a purposeful journey that combines rigorous academic studies, professional certifications, hands-on experience, and the development of a diverse skill set. Getting started can be as simple as merely getting your name out there to […]
Accounting Quizzes and Practice Tests
Also, skilled accounts receivable professionals help businesses stay compliant by accurately maintaining financial records. They prepare for audits and tax filings, which reduces the risk of penalties and legal issues. Prepare the adjusting journal entry to record the estimated uncollectible accounts (bad debt) expense using the percentage of sales method for the year ended December […]
What does debit memo mean on a bank statement?
When a customer pays too much, the extra can be offset with a debit memo. This allows the accounting department to clear it out by sending the memo back to the customer. If the extra amount in a customer’s account is the result of an accounting error that results in a residual balance, it can […]