QuickBooks Online 2021 account and settings, expenses, payments and advanced tabs. Let’s get into it with Intuit QuickBooks Online 2020. Here we are in our get great guitars practice file, we’re going to be continuing on with what would be similar to the preferences in the desktop version by going up to the cog up top in the upper right, going into the your company column. And taking a look at the account and settings group. We last time looked at the company tab, the billing and subscription tab, the usage tab, the sales tab.
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Account & Settings – Billing & Subscription, Usage & Sales Tabs 6.20
QuickBooks Online 2021 account and settings, billing and subscription usage and sales tabs. Let’s get into it with Intuit QuickBooks Online 2021. Here we are in our get great guitars practice file, we’re going to be continuing on with what would be similar to the preferences in the desktop version by going to the cog up top, we’re going to go into your company column on the left side, look at the account and settings. Last time, we took a look at the account and settings for the company information.
Lower of Cost or Market
In this presentation we will discuss the concept of lower of cost or market. We will define this concept first and then see it and talk about how it would apply to inventory. The definition of lower of cost or market according to fundamental accounting principles, while 22nd edition is required method to report inventory at market replacement cost when that market cost is lower than recorded cost. So, what we’re saying here is we have we’re talking about the inventory, of course, and we’re saying that we have to record it at the replacement cost. When that replacement cost that market cost is lower than the recorded cost, what we actually purchased it for. So this looks like a confusing type of definition. However, it’s pretty straightforward. What we’re applying here is going to be the conservative principle meaning that if our inventory has declined in value, we have to record it at the lower cost. We don’t want to be overstating our income mentoree obviously regulations are very concerned about us overstating something, when we’re talking about an asset, and making the financial statements look better than they would rather than understating it.