Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. David Kindness is a Certified Public ...

Today's refresher on journal entries: 1. **Accrued Revenue**: - When earned but not yet received: - Accounts Receivable (Dr) - Revenue (Cr) - When received: - Bank (Dr) - Accounts Receivable (Cr) 2.

If phantom income is not properly analyzed by counsel and the court in a matrimonial case, the result perforce may be ...

Investopedia / Xiaojie Liu Form 1099-INT is an Internal Revenue Service (IRS) tax form used to report interest income. Form 1099-INT is issued by all entities that pay interest income to investors ...

ITAT Chennai held that although the assessee company was following the mercantile system of accounting, only real income could be brought to tax. Hypothetical income cannot be taxed. Hence, appeal of ...

Many taxpayers are awaiting the draft of the new income tax bill 2025. The government has said the new income tax bill is ...

Unearned revenue is a liability because it represents a company’s obligation to deliver goods or services in the future.

The core issue was whether the institute was eligible for exemptions under Section 10(23C)(iiiac) and Section 11(2) of the ...

The Income Tax Act, 1961 replaced the Income Tax Act of 1922 following the recommendations of the Law Commission in 1958 and the Direct Tax Administration Enquiry Committee. The taxation philosophy of ...

Capital Southwest and Omega Healthcare Investors both offer attractive yields. See why CSWC and OHI stocks are strong picks for growth amid market volatility.