Should the useful life of a newly acquired fixed asset be the same as its physical life? This and other questions related to fixed asset useful lives are answered in this article.

Learn about accounting for advances to employees and officers with real-life examples and journal entries.

Learn about accounting for obsolete inventory with examples of obsolescence reserve journal entries.

Learn about accounting for short-term investments: trading securities and available-for-sale securities.

Learn about the impact of capitalizing vs expensing costs in the current and future periods.

Learn how to analyze accounts receivable and allowance for doubtful accounts like financial analysts do. Includes formulas and examples of financial analysis of accounts receivable.

Learn accounting for delinquency fees and prepayments fees.

Learn about accounting for repair and maintenance costs for fixed assets.

Learn about percentage-of-sales approach and percentage-of-receivables approach in calculating allowance for doubtful accounts and bad debt expense.

Learn about revenue recognition in situations when a right of product return exists.