by Accountant Town | Aug 16, 2019 | Balance Sheet
Accounting Principles – Special Account Functions While most accounts are kept for the purpose of classifying the records of financial transactions, there are certain classes of accounts which are sort of supplementary or secondary in their purpose and certain...
by Accountant Town | Aug 16, 2019 | Balance Sheet
Accounting Principles – Property Among the accounts prominent in all lines of business are the so-called “property accounts.” This has become a common term, although it is probably to be criticized in that it is not sufficiently specific. It includes, as a rule,...
by Accountant Town | Aug 16, 2019 | Balance Sheet
Accounting Principles – Buildings Buildings present a somewhat different subject for discussion than land. They are subject to a greater variety of possibilities than land, since it may almost be said of land that it cannot be carried away or destroyed, which is...
by Accountant Town | Aug 16, 2019 | Balance Sheet
Accounting Principles – Activity Relating to Buildings In discussing buildings with regard to what may happen to them, two phases of the situation should be covered, namely, what may occur physically, and, as to the title. Physically they are subject to...
by Accountant Town | Aug 16, 2019 | Balance Sheet
Accounting Principles – Equipment The term equipment has been given many different meanings. Used in one sense it seems to be merely an adjunct of machinery and tools as indicated by the balance sheet caption frequently seen —”machinery, tools, and other...
