Liabilities are the obligations to pay money, render services, or deliver goods at a later date as a result of a previous transaction. This definition…
In an effort to solve some of the shortcomings of the IRR method, financial analysts have devised an alternate evaluation procedure that is comparable to…
In accounting, the phrase “substance over form” refers to a preference for the underlying truth of a transaction above its legal form. The accounting idea…
In accounting, a trade discount is a reduction in price a manufacturer or wholesaler offers a trade buyer on the list price of goods. Purpose…
Capital Expenditure Capital expenditures comprise costs incurred for the acquisition of a fixed asset, such as land, a building, a car, machinery, etc. It also…
In accounting, revenue is defined as the total value of all money and other assets received by a company over a period of time. This…
In cost accounting, bin cards are physical or electronic records used to track inventory levels in a stockroom, warehouse, or another storage facility. The card…
Financial accounting and cost accounting are two different types of accounting that are used to track and report the financial performance of a business. While…
