August 2022
Beginner
752 pages
19h 29m
English
book
Accounting All-in-One For Dummies (+ Videos and Quizzes Online), 3rd Edition
by Michael Taillard, Joseph Kraynak, Kenneth W. Boyd
Content preview from Accounting All-in-One For Dummies (+ Videos and Quizzes Online), 3rd Edition
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Chapter 2
Interesting Rates
IN THIS CHAPTER
Understanding interest calculations
Making the most of interest income
Calculating loan interest
Few businesses are able to make major purchases without taking out loans. Whether loans are for vehicles, buildings, or other business needs, businesses must pay their lenders interest: a percentage of the amount loaned.
Some businesses also loan money to borrowers and receive interest payments as income. In fact, a savings account can be considered to be a type of loan because by placing your money in the account, you’re giving the bank the opportunity to loan that money to others. That interest is income for your company.
This chapter reviews different types of loans and shows how to calculate and record interest expenses for each type. It also explains how to calculate and record interest income in your business’s books.
Deciphering Types of Interest
Any time you make use of someone else’s money (whether that someone else is a person or a bank), you have to pay interest for that use, whether you’re buying a house, a car, or some other item you want. The same is true when someone else is using your money. When you buy a corporate bond ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.