GAAP (Generally Accepted Accounting Principles) is a set of rules and guidelines that tell a company how to prepare financial statements. All companies, whether… Read Article
An Onerous Contract is, as the word implies, a contract that becomes a financial burden for the company. The total cost of fulfilling this… Read Article
When it comes to preparing an income statement, the businesses have two options. The two options are a single-step income statement or a multi-step… Read Article
As the name indicates, a multi-step income statement shows multiple steps in Income Statement. To understand this concept in a better way, we have… Read Article
Meaning of Physical obsolesces:
Obsolesces negatively affect the value of the property. In other words, it reduces the value of the property. Further, obsolesces… Read Article
In forfaiting, exporters sell their trade receivables from the importers to a third party. This means that the exporters exchange their trade receivables with… Read Article
What is Throughput Accounting?
“Throughput” is the rate at which a corporation converts its goods, services, and other offerings into sales and makes money… 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
APIC: Meaning
In accounting terms, APIC stands for Additional paid-in Capital. And it is an additional amount the investors are ready to pay above… Read Article