eFinanceManagement

Fundamentals of Accounting: Meaning, Principles, Categories, and Statements

Fundamentals of Accounting Accounting is the procedure of data entry, recording, summarizing, analyzing, and then reporting the data related to financial transactions of businesses… Read Article

Liquid Assets

Meaning of Liquid Assets Liquid assets are those assets that are equivalent to or as good as cash. In other words, these are assets,… Read Article

Sum of Years Digits Method of Depreciation

Sum of the Years Digits Depreciation

As the name suggests, the sum of the year’s digits depreciation or SYD is a method to calculate depreciation. Since this method accelerates the… Read Article

Short-term Liabilities

A liability is a debt or legal obligation of the business to another individual, bank, or entity. There could be both short-term liabilities as… Read Article

Withholding Tax – All You Need To Know

Withholding Tax or the retention tax is a way of deducting tax at the source of the income to avoid collecting tax after the… Read Article

Trial Balance vs Balance Sheet – All You Need To Know

A balance sheet and trial balance are two important reports of the accounting system. The balance sheet is one of the three financial statements… Read Article

Capital Receipt vs Revenue Receipt – All You Need To Know

Capital Receipt and Revenue Receipt are an integral part of business activity, like capital expenditure and revenue expenditure. Both represent an inflow of cash… Read Article

CAPEX vs OPEX – All You Need To Know

Expenses are as important for a company as revenues. A business can’t earn revenue if it does not make necessary expenses. We can divide… Read Article

Accrual vs Deferral – Meaning and Differences

Businesses require the allocation of both incomes and expenses to the same accounting period. However, there are often instances when the expenses and revenues… Read Article

Assets vs Liabilities – All You Need To Know

Even if you don’t have a business or accounting or financial background, you would have heard the terms assets and liabilities. These terms are… Read Article

Debit Note vs Credit Note – All You Need To Know

Purchase and sale transactions are day-to-day operations between the buyer and the seller. Similarly, returning goods is also a normal business activity. If the… Read Article

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