When considering an investment, the investor should use the opportunity cost of putting their money to work elsewhere as an appropriate discount rate. That is

As the acknowledgement of his work, Pacioli is known as the “father of accounting” by modern accounting professionals. With a double-entry system, credits are offset

The report is also used by management, to determine the effectiveness of the credit and collection functions. Accounts receivable aging reports are also required for

The accounts are usually grouped into several categories, such as assets, liabilities, equity, income, and expenses. Each account is assigned a unique number or code,

However, if you receive an advance payment, you can elect to postpone including the advance payment in income until the next tax year. You cannot