# Financial Accounting

## Straight Line Depreciation Method

The straight line method is the easiest way of spreading the cost of an asset over its useful life. In …

## Double-Declining Balance Depreciation Method

Accelerated depreciation techniques charge a higher amount of depreciation in the earlier years of an asset’s life. One way of accelerating …

## Average Cost Method of Inventory Valuation

Besides FIFO and LIFO, the Average Cost Method is another common way for accountants to value inventory.  In this lesson, I explain the …

## Difference between Assets and Liabilities

Knowing how to differentiate between assets and liabilities is fundamental in understanding the accounting equation. The distinction between the two elements of …

## Last-In First-Out (LIFO Method)

If you’re new to accountancy, calculating the value of ending inventory using the LIFO method can be confusing because it …

## First-In First-Out (FIFO Method)

Finding the value of ending inventory using the FIFO method can be tricky unless you familiarize yourself with the right …

## A Simple Introduction to Accounting

If you are new to accounting, it can be confusing to figure out why we need to study accounting and …

## 19 Types of Expenses

Expenses are the cost of various resources that are consumed in running a business. In this post, I will explain …

## Relationship Between Financial Statements

You cannot judge a book by its cover and any business through a single financial statement.  Knowing the different types …

## Difference between Assets and Expenses

When you’re just starting to learn accountancy, it can be easy to confuse the expenses of a business with its …

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