Adam Hill

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Adam Hill started accounting and trading back in 2007. He has achieved quite a lot of success. Now he decided to open his blog. Here he publishes articles on accounting. For any questions of interest, please contact us by e-mail: admin-hill@online-accounting.net
Intangible Assets

Intangible Assets

This calculation attempts to allocate a fixed value to intangible assets that won't change according to the company's market value. Examples of intangible assets include patents, trademarks, copyrights, goodwill, brand recognition, customer lists, an...
What Is Included in Direct Labor for GAAP?
Direct Cost

Direct Cost

For example, with Ford, the direct costs associated with each vehicle include tires and steel. However, the electricity used to power the plant is considered an indirect cost because the electricity is used for all the products made in the plant. Tig...
Projecting Income Statement Line Items

Projecting Income Statement Line Items

While companies still debit income tax expense and credit income tax payable, the difference between the two accounts requires an additional debit entry to the so-called deferred tax asset to balance the total journal entries. All companies and indiv...
Accounting Chapter 4 Flashcards

Accounting Chapter 4 Flashcards

Why not just close the revenue and expense accounts directly to the Capital account? By looking at the Income Summary account ledger, one could easily thumb through the months' total revenues and expenses and see the resulting net incomes or losses. ...