Differences between Trade Discounts and Cash Discounts
Trade Discounts and Cash Discounts: MeaningDiscount is any reduction that a seller offers on the price of its products or services. Sellers provide discounts… Read Article
Expenses
Trade Discounts – Meaning, Benefits, Accounting, and More
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
Impairment vs Depreciation – All You Need to Know
Impairment and Depreciation are two very important concepts in accounting. Both concepts apply to assets, especially fixed assets. And both refer to the drop… Read Article
Multi-Step vs Single Step Income Statement – All You Need to Know
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
Multi-Step Income Statement
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
Profit and Loss Statement
Introduction to profit and loss statementThe profit and loss statement is one of the three most important financial statements that reflect any Company’s performance… Read Article
Accumulated Depreciation – Meaning, Accounting and More
Accumulated depreciation is the total or cumulative depreciation amount of an asset. That is to say; this accumulation is since its purchase by the… 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
Operating Expenses – Meaning, Importance And More
Operating Expenses or OPEX are those that a company incurs to keep the business running or in the normal course of business. A company… Read Article
Expense Report – Explanation, Uses, and Contents
For any business with employees, the expense report is an important part of its accounting process. It saves the business time and effort and… Read Article