But for businesses recording accruals manually, a good rule of thumb is to prepare the journal entry for the following month ahead of time, recording it once month-end processing is complete. When the accrual is reversed the following month, the accrued expenses account will be debited, which will reduce the balance in the account. Income […]

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For AFS and HTM debt securities, the Current Expected Credit Losses (CECL) model under ASC 326 requires companies to estimate and recognize an allowance for expected credit losses. If an AFS security’s fair value is below its amortized cost, the credit-related portion of the loss is recognized as an impairment charge on the income statement, […]

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But nonprofit revenue can have unique complexities and restrictions compared to for-profit businesses. Beyond just earned income, charitable nonprofits rely on diverse sources like donations, grants, government contracts, investments, and fundraising/events, among others. Each revenue stream has its own accounting treatments, trailing requirements, and financial impacts. While a template can make this job easier, it’s […]

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From an economic perspective, sunk costs are a given; they are the investments into projects, research, and development that have already been made. Economists argue that these costs should not affect the rational decision-making process. The emotional investment and the fear of wasted effort can cloud judgment, leading to the ‘sunk cost fallacy’ – the […]

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Additionally got the beet carpaccio and brussel sprouts. We have been most impressed by the pastas – all incredible! I will say the beet carpaccio was simply sliced beets on a plate, and was a bit underwhelming. Several individuals on our group were vegetarian, and it was a perfect place given the variety of decisions […]

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