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If it is an indexed or variable annuity, your money will grow if market conditions allow. However, there is the risk of loss if the market declines and doesn’t recover by the time you need to begin making withdrawals. A retirement annuity is a financial product that provides an income in retirement. It is similar… Continue reading Annuities in Advance financial definition of Annuities in Advance

I say normal balances because they don’t always have balances on those sides—but they should. For example, if your checking account is in overdraft then you have negative cash, which would show a balance on the right side instead. It basically means you have a cash liability instead of asset, which is not good. What… Continue reading T Accounts Examples in Accounting

With this feature, you can make sure all interested parties get a copy of an important letter, and you can also keep your own files updated at all times. The term “carbon copy” refers to the old carbon paper method of making copies that was popular before copying machines. While not directly related to displaying… Continue reading How to Add a CC to a Professional Business Memo Accounting Services

The selling expenses are the costs incurred when selling goods to consumers and may include marketing expenses, the salary of sales personnel, and freight charges. Investors and creditors can evaluate how well a company performs its main functions separate from any other activities the business is involved in. Investors and creditors want to know how… Continue reading Multi Step Income Statement What Is It, Example

Peer reviews or feedback from colleagues can highlight areas for improvement that may have been overlooked. With practice and attention to detail, you can master the art of writing accounting memos that serve your organization well. By following the guidelines in this guide, you can create professional memos that effectively communicate accounting information. Accounting teams… Continue reading Sample Accounting Memo Template in Apple Pages, Publisher, Word, PDF, Google Docs Download