Accounting Category: Liabilities

Accounting Articles

December 5, 2012

Income taxes are usually a significant expense of a company. For example, many corporations pay income taxes in 30-40% range. In this article, we will discuss a basic concept that applies to the payment of federal, state, or local income taxes. We will limit our discussion to taxes paid by corporations. We will not cover, in this article, temporary differences and the allocation of income taxes between financial statement periods. These topics will be discussed in later articles.

November 23, 2012

There are two types of working capital: permanent working capital and temporary working capital. In this article you will learn the difference between the two and how each of them can be financed (funded).

September 23, 2011

Learn how to calculate accrued payroll and payroll expense at period end. Examples of accounting for wages and salaries accrual are provided.

April 6, 2010

Prepare balance sheet from trial balance in five easy steps. Format and elements of classified balance sheet.

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Accounting categories represent a collection of accounting guides and answers related to one accounting area.