Trend Analysis is a statistical tool that helps to determine the future movements of a variable on the basis of its historical trends. In… Read Article
Legal Due Diligence MeaningDuring a merger or an acquisition, the buyer conducts legal due diligence on the target company as a part of the… Read Article
The matching principle is a common accounting concept or accounting principle. Under this, a company should report an expense in the income statement in… Read Article
What is Prime Cost?Prime Cost (or Flat Cost or First Cost) in managerial accounting is the direct cost that the company incurs in manufacturing… Read Article
A Pre-determined Overhead Rate is a projected ratio of overhead costs, which is determined at the start of the year. A company determines this… Read Article
Materiality is a concept in accounting that states that a firm can ignore small information that does not significantly impact the business. This also… Read Article
A Post-closing Trial Balance lists all the balance sheet accounts with a non-zero balance at the end of a reporting period. Hence, Companies use… Read Article
Closing entries are the journal entries that are made at the end of an accounting year to transfer the balance from temporary accounts to… Read Article