Bookkeeping

What Are Assets?

These real, often tangible assets are attached to financial assets, such as commodity futures or real estate investment trusts (REITs), respectively. Your net worth will often grow over your lifetime with smart financial decisions and a bit of luck. At this point in time, your assets are a car…
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Bookkeeping

Bonds vs Stocks What's the Difference?

Bonds are debt instruments and can be considered IOUs or loans. The basic idea behind a bond is that an entity needs to raise money, and therefore, can sell a bond in return for the required funds. In return, they promise to pay back the initial amount that they borrowed, in addition to interest.
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Bookkeeping

What is a contra expense account?

The primary difference between revenue and contra expense is the effect they have on a company’s financial statements. Additionally, revenue is reported on the income statement while contra expense is not. Failure to record these transactions can result in misleading financial statements and can…
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Bookkeeping

14 Best Kansas City Accountants

Whether you are a seasoned business professional or new to the world of business our job is to help you to get from where you are to where you would like to be. We take great pride in helping all our clients with all their tax needs. Our goal is to make you more efficient and profitable. Spend less…
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