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For example, consider a small business that discovers an unaccounted for expense during the closure of its income summary account. This discovery could lead to a revised net income figure, affecting the amount transferred to retained earnings. Such an adjustment not only impacts the financial statements but also the business decisions based on those figures. …

Income Summary: From Temporary to Permanent: The Journey of Income Summary Accounts Read More »

Now that you are familiar with annuities, we can transition into the how and what of perpetuities. In essence, the present value of a perpetuity is the present value of the future cash flows (no principal involved). PV is an Excel financial function that returns the present value of an annuity, loan or investment based …

Present Value PV: What It Is and How to Calculate It in Excel Read More »

Read more about this in our article below, and if you want to get started working on that invoice, scroll down and check out our free architecture invoice samples. An architecture invoice template is an effective learning tool to get started and hone your invoicing skills. But many professional architects soon shift to all-in-one business …

Construction Invoice Template for Excel Free Download Read More »