Managing your "stuff." Practical guides for tracking physical goods, equipment, and the depreciation write-offs that follow.
Assets
Learn the essential steps for creating the adjusting entry for depreciation. Understand the calculation, the correct journal entries for depreciation, and how accounting for accumulated depreciation ensures accurate financial reporting.
Assets
Learn the essential process of adjusting journal entries for inventory. Understand inventory shrinkage, the difference between periodic vs perpetual inventory, and how proper inventory accounting ensures accurate financial statements. Includes a practical inventory journal entry example.
