What is Cash Disbursement Journal?
Purchasing inventory or office supplies, paying out dividends, or making business loan payments with cash or cash equivalents are examples of disbursements. And when you have cash expenses, you should record them in a cash disbursement journal. Eric Gerard Ruiz, a licensed CPA in the Philippines, specializes in financial accounting and reporting (IFRS), managerial accounting, and cost accounting. Double Entry …
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Read MoreYuan Vs RMB: What Is The Difference?
In the 1980s, the Chinese government began to move the renminbi towards a convertible currency and began to introduce reforms aimed at making the currency more market-based. The renminbi, introduced in 1948, is abbreviated as RMB but it is not an official currency code. Markets located in Hong Kong that trade the Chinese currency at free-floating rates use another unofficial …
Read MoreFIFO Method Explanation And Illustrative Examples
The following formula can be used to calculate the average cost of fiberboard. For some companies, there are benefits to using the LIFO method for inventory costing. For example, those companies that sell goods that frequently increase in price might use LIFO to achieve a reduction in taxes owed. Last in, first out (LIFO) is another inventory costing method a …
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