by Phillip | Jul 9, 2017 | Accounting
Commerce students are widely aware of vital terms like assets, liabilities, bookkeeping, budgeting, capital investment, etc. Employers hunt for job seekers who bear a firm foundation on accounting and marketing terminologies. These help employees tackle problems in...
by Phillip | Jul 9, 2017 | Accounting
In order to extend a business, it undoubtedly needs requisite investment. But it is not always possible that a company’s owner will find potential investors. They are always needed to have a second set of plans so that just because of the requirement of some...
by Phillip | Jul 9, 2017 | Accounting
The expense in accounting that is identified in the records before its payment is called accrued expense. It is termed as a current liability. The accrued expenses are typically recurrent and also accounted in the firm’s balance sheet because there are very high...
by Phillip | Jul 9, 2017 | Accounting
At times firms make advance payments for certain goods or services before the actual usage, these types of payments are called prepaid expense. Thus prepaid expenses are treated as an asset to the business that are shown on the company’s balance sheet showing goods...
by Phillip | Jul 9, 2017 | Accounting
Operations of any business organization requires certain expenses, firms cannot function without such expenses. There are several types of expenses involved, outstanding expenses are also a form of expenses required to run a company. Expenses that have been made and...
by Phillip | Jul 9, 2017 | Accounting
Profit and loss is a topic of mathematics which comes in handy on a daily basis. So, the concept of profit and loss is a part of almost every calculation that you do. Starting from buying grocery to making a final business deal, everywhere you will notice it as a...
