Fixed assets are those assets that are utilized by the business over a long period of time and generate long term benefits or revenue for the business. Fixed assets are capitalized in the books of accounts as their benefits are...
Read MoreBusiness transactions of manufacturing and trading entities involve an exchange of different types of goods. Output of one entity becomes input for the next and so on, forming a supply chain across the industry. To ensure smooth...
Read MoreBusiness entities undergo different interactions with each other as well as with end users of their products. These interactions typically include purchase of merchandise or raw materials inventory from vendors, sale of goods...
Read MoreToday, the business operations take place across national as well as international borders. To produce their goods and services, business entities often rely on inputs sourced from various geographical locations. Also they sell...
Read MoreEntities need to recognize their expenses correctly so that the books of accounts reflect the true financial condition of their business. Expenses which arise within a specific year are recorded in the books as and when they are...
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