Financial Accounting

Other comprehensive income or OCI are those income, expenses, gains and losses that the company is yet to realize. Since these are unrealized items,… Read Article

IFRS is the abbreviation for International Financial Reporting Standards. It is a set of rules and guidelines that every firm has to adhere to… Read Article

Goodwill is an important part of the business and it is one of the intangible assets. It is used for the valuation of the… Read Article

Capital Profit and Revenue Profit: Meaning Profit is a financial gain that commercial organizations make by performing business activities. The very basis of running… Read Article

Arrearages are the amount of loan, preference share or any other credit instrument that is overdue. Arrears or arrearage sound very similar and many… Read Article

Trade Discounts and Cash Discounts: Meaning Discount is any reduction that a seller offers on the price of its products or services. Sellers offer… Read Article

In the age of globalization, it is very important that companies properly prepare their financial statements. Moreover, their financial statements should be such that… Read Article

What do we mean by Liabilities in a Balance Sheet? A liability is something that a business has to pay, either in cash or… Read Article

Trade Discounts, as the word suggests, is a reduction in the selling price. This is the discount that a manufacturer or wholesaler gives to… Read Article

A holding company is a company that does not manufacture, market or sell any product or service. Rather, it controls other companies or subsidiaries… Read Article