Accounting

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...

Business 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...

Today, 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...

Entities 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...

Businesses incur several types of costs in the course of carrying out their operations. Measuring these costs is important to take pricing decisions and analyzing them is crucial to implement cost control and management measures...