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Tutor profile: Julia G.

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Julia G.
Professional accountant with 15+ years experience
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Questions

Subject: Microsoft Suite

TutorMe
Question:

What are the shortcut keys to copy and past data within Excel?

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Julia G.
Answer:

Highlight your desired data. On your keyboard, hold down CTRL+ C to copy the data. Click in the cell where you want the data pasted. Hold down CTRL + V to paste the data in the new location.

Subject: Accounting

TutorMe
Question:

What is the "matching principle" in accounting?

Inactive
Julia G.
Answer:

The matching principle is the basic concept of accrual accounting. Accrual accounting requires that expenses are reported when they match up with the revenue being reported. - "matching" the expenses to the income. If revenues are earned, but the cash is not received in the specific period, an entry is recorded to accounts receivable to match the revenue to expenses. On the other side of the accounting equation, if revenue is earned but the expense has not been paid in the period, a liability is recorded in accounts payable to allow the expense to match the revenue in the same time period.

Subject: Business

TutorMe
Question:

What is the difference between current and non-current assets on the balance sheet?

Inactive
Julia G.
Answer:

Current assets are assets that can be easily converted to cash. These can include stock, accounts receivable, money-market accounts and sometimes short-term investments. Being able to quickly convert these assets to cash could be beneficial in a financial crisis. Non-current assets are assets that are not slated to be sold within the next twelve months. These are not as liquid as current assets, and are not intended to be sold for cash in the near future. These can include long-term investments, fixed assets, ownership interest in other companies, goodwill, intellectual property, patents, etc.

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