What is operating income?

Operating expenses might include utilities, employee wages, office supplies, insurance, depreciation and the cost of goods sold (COGS). Operating income is a value that is used to demonstrate a company’s …

Contra accounts definition

The two most common contra accounts on a balance are accumulated depreciation and the allowance for doubtful debts. Accumulated depreciation tallies the depreciation to date of a fixed asset, such …

Types of Accounts Accounting Dictionary

Some accountants charge by-the-hour for consultation services, short-term assistance sorting out bookkeeping issues, or one-time help to get new accounting software up and running. While there is no official title …