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To obtain a cash payout before the note reaches maturity, you can sell these notes to a bank or other financial institution for some price…

A capital lease is a type of lease agreement in which the lessee (the person who rents the asset) is considered the owner of the…

Upon project completion, the CIP account is transitioned to the appropriate fixed-asset account. With multiple ongoing projects, maintaining accurate records can be challenging. Frequently review…

The IAS 11.9 regulates the treatment of two or more assets’ construction as a single contract if they are negotiated as one contract. For the…

The reason that bifurcating something divides it is because it causes it to have two (bi-) forks (furcates) or branches. In English, few words carry…

It precisely conveys an event’s frequency or occurrence, often in formal contexts such as business documents or academic writings. In real-life situations, you may need…

Choosing the right accounting method is essential to accurately reflect the nonprofit’s financial activities. The Notes to the Financial Statements provide additional context and explanations…

In this article, we’ll explain more about each financial statement, why and when nonprofits need financial statements, and share examples of how organizations have used…

This is where you’ll list the things your nonprofit owes, such as your accounts payable, grants payable (if you give grants to other organizations), debt,…

Ideally, you would have far more assets without restrictions than with restrictions. If you haven’t seen one for your organization yet or want to try…