All revenue and expense accounts must end with a zero balance because they’re reported in defined periods. A hundred dollars in revenue this year doesn’t count as $100 in revenue for next year even if the company retained the funds for use in the next 12 months. Clear the balance of the expense accounts net...

The opening balance is often called Brought Forward (BF) from the last financial period. One needs a sound comprehension of opening and closing balance to do so. Once you have a grasp of the basics of opening balance equity, you will Accounting for Technology Companies be able to correct it and reduce it to zero....

EXW terms, however, are often riskier for the seller since they are responsible for the goods until they reach their destination. The designated location in a FOB trade agreement is the point at which ownership is transferred from the seller to the buyer. how is sales tax calculated Ex Works (EXW) and Free on Board...