Financial Accounting
Financial Statement Notes / Footnotes Financial statement notes are the additional important information apart from the basic 3 financial statements. These notes to financial statements give due clarity to …
There are 3 basic types of financial statements. We are categorizing another 2 important parts of an annual report as financial statements. Let’s begin our discussion with a small …
What is Fixed Asset Register? Fixed asset register contains the list of all the fixed assets a business owns. The purpose behind maintaining is to keep track of book …
What is Fixed Asset? Fixed asset, in accounting, is a long-term asset having lifespan > 1 financial year and value > capitalizing limit. They are typically bought to generate …
What is Capitalizing Assets? Capitalizing assets simply means you are carrying an asset to balance sheet. It indicates you purchased an asset, the life of which is more than …
Meaning of EBITDA Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) can be defined as a company’s operating profit without considering factors such as interest, taxes, depreciation, and amortization.
Meaning of Operating Cash Flow Operating Cash Flow (OCF) is a metric used to test the company’s cash inflow through business. It shows how well a company can produce …
An intangible asset is a useful resource without any physical presence. The assets such as trademarks, copyrights, patents, goodwill etc are intangible assets. You can now understand that such assets produce …
Meaning of Bills Payable Bills Payable (B/P) is a liability document which shows the indebtedness of an individual, an organization, a bank, etc. When an individual or an organization makes …
Definition of Notes Payable When a company issues promissory notes, it maintains the records of the amount of promissory notes issued in a ledger account. Such account is termed …
