Goodwill is an asset that is recorded on the balance sheet and whose definition and calculation is specific to the Generally Accepted Accounting Principles, i.e., GAAP. This specific description helps managers and investors to understand the answer to the question, “what Is Goodwill in accounting?” Quick Navigation What Is Goodwill in Accounting?What Is Goodwill in […]
What Is Amortization?
Management of loans is important for individuals to maintain a healthy and bright financial future. Much of the economy is spurred on by investments in the forms of loans, which allow people to purchase things like automobiles, homes, or other items. There are not many Americans who do not have some familiarity with loans, as car […]
What Is Gross Income and How to Determine Yours
What is gross income? Gross income is a number we see many places. We see it on the form 1040 when we are filing our personal income taxes. We see it on a company’s income statements when we are trying to decide if we should invest in it. We see it on our pay stubs.What […]
Feeling Broke and Hopeless? Don’t File for Bankruptcy Until You Read This!
Image: CC BY-SA 3.0, by Nick Youngson, via Alpha Stock Images/Blue Diamond GalleryIs filing for bankruptcy just another sad move in a line of bad money management? Or can it be a thoughtful business decision to help you learn and grow?Most of its connotations are negative, from celebrity bankruptcies to relentless commercials on credit failure, […]
Accounting For Dummies Book Review
When it comes to keeping track of our finances, the numbers can quickly turn into seemingly indecipherable symbols. When things get complicated, a little accounting knowledge comes into play. Understanding accounting can provide us with the essential knowledge and skills we need to decipher the seemingly complex world of financial management.Through reference aids such as […]
What Is Taxable Income?
Taxable income is the amount of income you have to pay taxes on that you have received throughout the year such as rental payments, alimony, wages, and tips. However, not all of your income is taxable. The federal government allows you to keep some of your income completely untaxed through the use of exemptions and […]
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