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The DDB method accelerates depreciation, allowing businesses to write off the cost of an asset more quickly in the early years, which can be incredibly beneficial for tax purposes and financial planning. If you’re brand new to the concept, open another tab and check out our complete guide to depreciation. Then come back here—you’ll have… Continue reading How to Calculate Declining Balance Depreciation

Alongside her accounting practice, Sandra is a Money and Life Coach for women in business. As such, some firms debited contingency losses to the appropriation and did not report them on the income statement. A company’s management team always makes careful and judicious decisions when it comes to dividends and retained earnings. Profits generally refer… Continue reading Retained Earnings in Accounting and What They Can Tell You