biannual vs semiannual: See the Difference

Biannual, biennial, and semiannual are adjectives that describe the frequency at which events occur. Also, remember that “bi-annual” has a second meaning; it can also signify an event that happens every other year. However, keep in mind that you can also use...

Difference Between Debtors and Creditors with examples

ABC Company must pay for the materials within the agreed upon terms, such as net 30 days. Keep in mind that someone who’s filed for bankruptcy may also be considered a debtor. A creditor may also take a debtor to court for failure to pay and this can lead to liens or...

Income Statement Items Explained With Examples

Cost of goods sold is the cost that occurs directly related to the sale that the company makes, which is usually referred to as direct cost. It is the expense element of income statement that ties directly with sale revenue. Cost of sales represents the cost of goods...

12 Branches Of Accounting & Related Jobs With Skill Sets

A cash accounting method and an accrual accounting method are both used in accounting. According to the IRS, companies with corporations or gross revenue over $5 million per year must use the accrual method. In fiduciary accounting, individuals handle accounts...

Boulder Bookkeeping, Accountants & Accounting Firm

Founder Mark R. Sunderland has more than 20 years of experience as a CPA and prides himself on caring for the unique needs of small businesses. Clients can explore the online resource center and fill out the convenient email form for a consultation. Serving clients in...