Discounts and Allowances are reductions to the selling price of goods or services. They can be applied anywhere in the distribution channel between the manufacturer, middlemen (such as distributors, wholesalers, or retailers), and retail customer. Typically, they are used to promote sales, reduce inventory, and reward or encourage behaviors that benefit the issuer of the discount or allowance.
Read about cash discounts, trade discounts, partial payment discounts, quantity discounts, and trade allowances in this Discounts and Allowances tutorial.
Friday, March 30, 2007
Wednesday, March 28, 2007
March 2007 College-Cram Newsletter
Spring break, NCAA tourney time, grapefruit league action... This is the time of the year when we all could use a good mental recharge. The semester's far from over, though, so unfortunately we now have to get back to work.
Still, we have a few quickie diversions for you to help you ease back into things.
I got mine, I hope you got yours too,
Professor Cram
The brackets are filled out, and the games are undeway. So who do you think will take the men's finals?
Vote here!
Apparently, the primary season started early this year. So who do you think will make the best Republican and Democratic presidential candidates for 2008?
Vote Democratic here!
Vote Republican here!
I can understand non-US citizens 'not getting' the government structure in the US. Some of us living with it don't get it. This overview should shed some light on the intent, organization, and checks and balances of the US Federal Government.
Read more
Students all over the world are sounding off on Professor Cram...
Read more
Dear Professor Cram:
HI, i have a test..TOMORROW MORNING.. and need big time help on Accounting using 'T' Accounts... is there any way you could help me out and explain to me the basics...?
Brittany, Saskatchewan
Thanks for the question, Brittany. 'T' accounts are a representation of the ledgers for each account in the chart of accounts, with debits on the left and credits on the right. Usually when you are working assignments with 'T' accounts, you are at the posting from the journal to the ledgers step in the accounting cycle.
Read more
Still, we have a few quickie diversions for you to help you ease back into things.
I got mine, I hope you got yours too,
Professor Cram
NCAA Tournament Picks
The brackets are filled out, and the games are undeway. So who do you think will take the men's finals?
Vote here!
Presidential Candidates
Apparently, the primary season started early this year. So who do you think will make the best Republican and Democratic presidential candidates for 2008?
Vote Democratic here!
Vote Republican here!
About the US Federal Government
I can understand non-US citizens 'not getting' the government structure in the US. Some of us living with it don't get it. This overview should shed some light on the intent, organization, and checks and balances of the US Federal Government.
Read more
Don't Just Listen To Us!
Students all over the world are sounding off on Professor Cram...
Read more
Ask Professor Cram: T-Accounts
Dear Professor Cram:
HI, i have a test..TOMORROW MORNING.. and need big time help on Accounting using 'T' Accounts... is there any way you could help me out and explain to me the basics...?
Brittany, Saskatchewan
Thanks for the question, Brittany. 'T' accounts are a representation of the ledgers for each account in the chart of accounts, with debits on the left and credits on the right. Usually when you are working assignments with 'T' accounts, you are at the posting from the journal to the ledgers step in the accounting cycle.
Read more
Tuesday, March 27, 2007
Accounting Cycle
The Accounting Cycle is a series of steps which are repeated every reporting period. The process starts with making accounting entries for each transaction and goes through closing the books.
Visit College-Cram.com to read more about the Accounting Cycle, including tutorials on these concepts:
These tutorials should help you master basic accounting, and help you succeed in school or your job.
Visit College-Cram.com to read more about the Accounting Cycle, including tutorials on these concepts:
These tutorials should help you master basic accounting, and help you succeed in school or your job.
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