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Financial Accounting Concepts
What is Trade Discount in Accounting?
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 of Trade
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Financial Accounting Concepts
Capital Expenditure Vs Revenue expenditures in Accounting
Capital Expenditure Capital expenditures comprise costs incurred for the acquisition of a fixed asset, such as land, a building, a car, machinery, etc
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Financial Accounting Concepts
What is the Definition of Revenue in Accounting?
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 can include money
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Money and Investment
What is Simple Interest in Interest Calculation?
Regarding interest calculation, there are two types of interest: simple interest and compound interest. In this blog post, we’ll be discussing s
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Money and Investment
What is Compound Interest in Interest Calculation?
Compound interest (CI) is the interest that is earned on the initial principal and also on the accumulated interest of previous periods. The interest
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Cost Accounting and Cost Management
What is Idle Time in Cost Accounting
In cost accounting, idle time is when a production resource is available but not used. Idle time can occur for several reasons, such as when a product
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Cost Accounting and Cost Management
What is Labour Turnover in Cost Accounting?
Labour turnover is the number of employees who leave a company over a period of time, divided by the average number of employees during that period. T
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Financial Accounting Concepts
What is Bin Card in Cost Accounting?
In cost accounting, bin cards are physical or electronic records used to track inventory levels in a stockroom, warehouse, or another storage facility
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Financial Accounting Concepts
What is the Difference Between Cost and Financial Accounting?
Financial accounting and cost accounting are two different types of accounting that are used to track and report the financial performance of a busine
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Cost Accounting and Cost Management
What is a Cost Centre in Costing?
A cost centre is a department or function within an organisation for which costs are incurred. Cost centres are typically grouped together by function
