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Money and Investment
5 Helpful Tips For Getting Rid Of Debt
Debt can feel like a heavy weight on your shoulders. It can limit your financial freedom and cause a lot of stress. But you don’t have to stay stuck! Taki
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Financial Accounting Concepts
What is zero-based budgeting? Meaning and Explanation
Zero-based budgeting, or ZBB, is a strategic approach to financial planning that expects each expense to be justified starting from zero. Unlike the traditional
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IFRS
IFRS 6 – Exploration for and Evaluation of Mineral Resources
IFRS 6 outlines the accounting treatment for the mineral resource exploration and evaluation, for mining, oil, and gas companies to recognize related expenses.
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IFRS
IFRS 5 – Non-current Assets Held for Sale and Discontinued Operations
IFRS 5 offers guidance on the classification, measurement, and disclosure of non-current assets held for sale and discontinued operations. The standard ensures
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Financial Accounting Concepts
Meaning and Objectives of Preparing Cash Flow Statement
Cash is critical to a business’s economic life. A business requires cash to pay suppliers, incur daily expenses, and pay salaries, wages, interest, and di
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Financial Accounting Concepts
What are Ind-ASs and When They Are Applicable?
What is an Ind-AS? An IND-AS is an accounting standard prepared in India in compliance with IFRS. IND AS is currently tracked by all listed firms and those unli
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IFRS
IFRS 4 – Insurance Contracts, Scope and Applicability
Overview IFRS 4 is the IASB’s first advice on insurance contract accounting – but not the last. A detailed study of insurance contracts is now being
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Cost Accounting
What is Marginal Cost Equation | Practical Application
The marginal cost of an additional unit of output is often referred to as the “prime cost plus variable overhead.” It encompasses all costs that var
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Cost Accounting
Integrated Accounting System of Cost Accounting
Integrated accounting is defined by the Chartered Institute of Management Accountants (CIMA) as “a collection of accounting records that offers financial
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Cost Accounting
What is a Non-Integrated Accounting System?
The non-integrated accounting system is an accounting method whereby accountants keep separate ledgers for cost and financial accounts. In such a system, the co