Types of discounts

They appear near the top of the income statement, as a reduction from gross revenue and are thus recorded in a contra-revenue account named Sales Discounts. Therefore, the debit balance of the sales discount will be one of the deductions from sales (gross sales) in order to report the net sales. Sales discount as a […]

What is Deferred Revenue? Definition & Examples

Company A estimates that the project will take around 50 days and agrees to begin work 5 days after they receive the down payment of $15,000. Make sure you have a system in place to track when products or services are delivered. This will help you recognize revenue in a timely manner and avoid any […]

What is financial leverage? Investing Definitions

In both cases above, since the DFL is greater than 1, thus financial leverage does exist. The higher the value as calculated in both cases above, the greater the degree of financial leverage. Let’s understand some key definition of financial leverage as well as the degree of financial leverage . While leveraging assets has the […]

Internal Revenue Bulletin: 2023-42 Internal Revenue Service

Under these rules, you either include certain costs in inventory or capitalize certain expenses related to the property, such as taxes. To elect the de minimis safe harbor for the tax year, attach a statement to the taxpayer’s timely filed original tax return (including extensions) for the tax year when qualifying amounts were paid. In […]

100 Highest-paying Jobs in America

Those entering the field will need a doctor of physical therapy degree and have a state-issued license. In addition to finding potential mining sites, these engineers design mines for the safe extraction of minerals. Future mining and geological engineers study for a bachelor’s highest paying jobs degree in engineering programs, with various states requiring specific […]