Wouldn’t it be nice if you can write an exam for as long as you needed to? If you take an entire day or one week to finish a paper, you know for sure you are passing that exam. Unfortunately, exams do not only test your knowledge, understanding and application …

Capital is assets invested into a business and the term describes the liquid assets available to spend. Generally, both fixed and current assets represent capital but stakeholders are more concerned about the continuity of the business using cash and assets that can be turned into cash quickly to pay liabilities …

By Joyanne James. Do you know the difference between the sounds of the words paw, pore, poor and pour? These four words are homophones in some varieties of English such as in Caribbean countries. In other varieties, only pore, poor and pour have the same sound. This fun activity should …

The Income Statement is the next step in the Accounting Cycle after the Trial Balance is finalised. It is one of 3 financial statements that is prepared by an accountant. The other 2 are Balance Sheet and Cash Flow Statement. It reports whether a business makes a profit or a …

Income is money that a business acquires that is earned, unearned and contributed. It has a credit balance in the ledger accounts when it increases and a debit balance when it decreases. Earned money is acquired for work done when selling goods and rendering services. Unearned money is acquired through …