Author: Terms compared staff

Accounting involves measuring, presenting and reporting of financial information of an enterprise. Accounting can further be segregated into types based on the information that they seek to report. These can include financial...

As the global economy develops and businesses grow, the need for qualified finance professionals to manage these businesses increase. These professionals work in wide ambit of finance related fields ranging from accounts to...

Definitions and meanings: Gross Profit Gross profit for a period refers to the excess revenue that is left with the business after recovering the total costs spent on the production or purchase of the goods sold during the...

Definitions and explanations Periodic inventory system: A periodic inventory system is a system of inventory accounting in which real time updation of inventory balances are not made. In fact physical counting of inventory...