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Financial Accounting Concepts
What is Prepaid Expense? Journal Entry in Books
Prepaid expenses are expenses that a company or business pays for in advance but which have not yet been incurred or used. These expenses can include items such
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Financial Accounting Concepts
What is the Matching Principle of Accounting?
The Matching Principle is a fundamental accounting concept that aims to ensure that expenses are recognized in the same period as the related revenues. It is on
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Financial Accounting Concepts
Difference between trial balance and balance sheet
The balance sheet and trial balance are two of the most important financial statements in accounting. While they both play crucial roles in presenting a company
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Corporate Accounting
What Are the Different Types of Dividends
Dividends are a key way for companies to distribute profits to their shareholders. When a company generates earnings, it has a few options for what to do. It ca
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Cost Accounting
What is Material Mix Variance? Meaning and Treatment
Material mix variance is a measure of the deviation in the usage of different materials from standard or expected usage. In other words, material Mix Variance m
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Cost Accounting
What is Sales Volume Variance? | Formula
Sales volume variance is an important concept in accounting and finance that helps businesses understand how their sales performance differs from their original
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Financial Accounting Concepts
What is Trade Discount? Treatment of Trade Discounts
Trade discounts are discounts given to customers who purchase goods or services in large quantities or on a regular basis. These discounts are meant to encourag
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Corporate Accounting
What is Window Dressing of Financial Statements?
The window dressing of financial statements is a term that refers to the manipulation of financial information in order to make a company appear more financiall
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Financial Accounting Concepts
What is Del Credere Commission?
Del credere commission is a type of commission paid to a buyer’s agent or a commission agency in exchange for taking on the buyer’s credit risk. It
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Cost Accounting
What is Reorder Level in Cost Accounting?
Introduction Cost accounting is essential for businesses to understand their costs and make informed decisions. One of the key concepts in cost accounting is th