by pay@crispino.us | Jul 2, 2026 | Assets, Chart of Accounts, Terminologies
Costs incurred for projects still under development, such as a building not yet finished. This account accumulates expenses until the asset is ready for use. Once complete, the balance is transferred to a fixed asset category.
by pay@crispino.us | Jun 3, 2026 | Assets, Chart of Accounts, Terminologies
A contra-asset account that records the total depreciation expense charged against fixed assets. It reduces the book value of assets over time. This reflects wear, tear, or obsolescence.
by pay@crispino.us | May 22, 2026 | Assets, Chart of Accounts, Terminologies
Cash or personal resources transferred by the owner to fund business operations. Recorded as a business asset but increases Owner’s Capital simultaneously. Important to separate from personal accounts for legal and tax purposes.
by pay@crispino.us | May 19, 2026 | Assets, Chart of Accounts, Terminologies
Assets held for more than a year, such as stocks, bonds, or real estate. They are not intended for quick liquidation. Used for strategic growth or income generation.
by pay@crispino.us | Mar 26, 2026 | Assets, Chart of Accounts, Terminologies
Shares, bonds, or other instruments intended to be held beyond one year. Provides income and diversification for excess funds. Classified as noncurrent assets.
by pay@crispino.us | Mar 12, 2026 | Assets, Chart of Accounts, Terminologies
Cash discounts taken for early payment of supplier invoices. Reduces the overall cost of purchases. An incentive to manage cash efficiently.
