Bookkeeping

Debits and credits are used in a company’s bookkeeping in order for its books to balance. Debits increase asset or expense accounts and decrease liability, revenue or equity accounts. When [...]

First, financial statements can be compared to prior periods to better understand changes over time. For example, comparative income statements report what a company’s income was last year [...]

Answer “Yes” if the organization checked “Yes” on line 3a and filed Form 990-T by the time this Form 990 is filed. Check “No” if the organization answered “Yes” on line 3a but hasn’t filed Form [...]