Depreciation- Small Business Accounting Tutorial

Depreciation- Small Business Accounting Tutorial: Calculating straight-line depreciation for an asset.
Depreciation: Overview             Most companies own assets that have long useful lives. These can take the form of buildings, equipment, and vehicles. As explained in previous lessons, companies must follow the cost principle of GAAP (recording assets at cost). In order to allocate the cost of using the asset over a length of time, companies
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Small Business Accounting- Unearned Revenue

In small business accounting, some concepts can be trickier than simply recording assets, liabilities, and transactions. Some companies receive advances in payments before actual services are performed. In accounting, this is called Unearned Revenue. Unearned revenue must be reported in order for companies to comply with GAAP* principles. When the company receives an advance, it
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