The main difference between fixed and variable costs?
In business finance and accounting, it is critical to know the distinction between fixed costs and variable costs to make effective budgets, pricing decisions, and financial choices. Fixed costs, for example, rent and wages, do not change with production levels, whereas variable costs, for instance, raw materials and transportation, vary according to business activity. Understanding […]
The Use of Data Analytics in Forensic Accounting Investigations
In recent years, the area of forensic accounting has evolved rapidly, partly as a result of technological improvements. The use of data analytics in forensic accounting investigations is one of the most significant technological developments that has touched the discipline. Analysing huge and complicated data sets for hidden patterns, trends, and insights is known as […]
What is Net Realisable Value (NRV)?
Net Realisable Value is the value of a product after subtracting the expected costs of production, transaction costs and taxes related to the sale of the item. Net realisable value is usually used in measuring the value of inventory assets following a depreciation in value. Net Realisable Value (NRV) is a vital accounting concept used […]