Difference Between Financial and Management Accounting

Manufacturing companies must also compile excise duties and pay them regularly. Those companies that are importing or exporting goods must also pay duties. Companies must make all these statutory payments without delay or failure to ensure that they don’t attract any...

6 Limitations of Using Financial Ratio Analysis

A Balance Sheet is one of the financial statements that lists business assets, liabilities, and owner’s equity on a specified date. It is a synopsis of the business’s financial health as of the last date of the accounting period. This lesson will introduce the balance...

Smart Tools Better Business.

QuickBooks is Cloud-based, and hence your Financial Data is securely hosted on the Cloud allowing you to access it anytime, and across any device. Let’s discuss the important aspects of QuickBooks for Personal Use mentioned below. Access a variety of self-paced and...

Present Value of a Single Amount Table

Suppose that a company with an extra $100,000 lying around is trying to decide between investing the money at 4 percent for five years and using the extra money to expand the business. It sure would help if they know how much the $100,000 would grow if they invested...

Goodwill meaning, types, example, accounting, etc

According to US GAAP and IFRS standards, the goodwill of a company has an indefinite life span, so it does not have to be amortized. You should consult your own professional advisors for advice directly relating to your business or before taking action in relation to...