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Financial Accounting Concepts
What is the Difference Between Trading and Investing
In growing wealth in the financial market, two popular strategies are trading and investing. Though both require buying and selling of assets such as stock, bon
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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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Tax Accounting
5 Legit Expenses That Reduce Tax in Books of Accounts
Tax planning is an important part of financial management for companies and individuals. One of the best means of minimisng tax burdens legally is claiming vali
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Accounting Regulatory Bodies
What are the Various Functions of IASB?
The International Accounting Standards Board (IASB) is a not-for-profit organization that develops and sets accounting standards to be followed by companies in
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Cost Accounting
Purpose of Financial Accounting, Cost Accounting, GAAP, and IFRS
Accounting is also vital in making business decisions through providing transparency, accuracy, and conformity with financial laws. Financial accounting deals w
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Cost Accounting
What is a Production Budget and Its Components?
A production budget is a financial plan that outlines the estimated costs associated with creating and delivering a product or service. The production budget se
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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
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Cost Accounting
What is Economic Batch Quantity? With Example
Economic batch quantity (EBQ) is a crucial concept that determines the most cost-effective quantity of units to produce in a single batch or production run. By
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Corporate Accounting
Ratios that are likely to help the management
Ratio analysis is the process that involves analyzing and interpreting data coming from different financial accounts, such as the balance sheet and profit &
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Accounting Regulatory Bodies
Volkswagen Scandal – An Accounting Perspective
Every public organisation must be accountable for its operations from a financial, social, and environmental perspective (Crane & Matten 2010). There are ma