Bookkeeping

An understanding of the different branches of accounting is important to both a business and an individual as it provides a framework to monitor financial activities. Financial, management, tax and forensic accountants all have a specific role to play that aids the overall financial health and success of an organization. For the business, the ability [...]

However, it’s essential to consult a tax professional to ensure compliance with local regulations. So Buyer will be debited as $900 in the seller’s book and the seller will be credited as $900 in the buyer’s book. So, in any case, it is not necessary to record the trade discount at $100. Cash discounts are [...]