The 10K
The 10K is the annual report filing to the Securities and Exchange Commission (SEC). You can find a publicly-traded company’s 10K at sec.gov. […]
Giving Thanks
Dear friends,
I pray that each of you has a good Thanksgiving and thoroughly enjoy the company of loved ones. Every moment of life is a blessing from God. As we often say in church, “God is good all the time, and all the time, God is good.” […]
Going Concern Assumption
Recall that accrual accounting is a generally accepted accounting (GAAP) basis of accounting for company operations. The income statement presents a company’s results of operations as measured following the tenets of accrual accounting. There are several assumptions behind the accrual practice of how we record accounting events and how we measure those events. Today, I’ll write about the going concern assumption. […]
France
As we witnessed the brutality in Paris this week, our hearts and prayers earnestly go out to the families of those who died and of those wounded; and we ask that God bring healing to those who were wounded. […]
Money: A Christian Perspective
In a recent post, I shared a video that a dear friend had shared with me. The video highlighted a couple of valuable financial lessons from the Bible. As stated in the video, the Bible actually has much to say about money. […]
The Accounting “Cost” Principle
The practice of accounting records assets to the balance sheet initially at their cost of acquisition. This means that assets are initially booked at fair value. That is, they are recorded at their cash value in an otherwise arms-length transaction. […]
A Good Video Clip About Money
I always appreciate it when friends write me and share something they have run across that is informative and interesting. This week, a dear friend shared with me a news clip called “Here Are Some Valuable Financial Lessons That Are Right in the Bible.” […]
U.S. Debt Talk
A friend sent an article link to me yesterday that I decided to pass along via my post today. It is very interesting. The article is called “TIC: The most important report you’ve never heard of.” […]
Expense Recognition
Last week, my post discussed the principle of accounting for operating inflows referred to as the revenue recognition principle. Continuing with the overarching theme of accrual accounting, this week I’ll write a few things about the application of measuring outflows (i.e. expenses) from operations. […]
Revenue Recognition
Accrual accounting is a system of recognizing inflows and outflows. My goal in writing about it does not include a conversation about all the technical aspects that are well beyond the scope of “blog posts.” Rather, I want to provide a decent “feel” for the terminology so it can become more useful when you are analyzing the financials of companies, especially the Income Statement. […]