The art of crafting words into meaningful expressions is a skill that can be cultivated and perfected. Whether your goal is to create captivating fiction or articulate compelling non-fiction, this introductory guide will provide you with the essential tools to start your writing journey. Before you begin writing, it’s essential to understand why you want […]
What is Corporate Tax? Corporate Tax is a form of direct tax levied on the net income of corporations and other businesses. Corporate Tax is sometimes also referred to as “Corporate Income Tax” or “Business Profits Tax” in other jurisdictions. Who is subject to Corporate Tax? Broadly, Corporate Tax applies to the following “Taxable Persons”: […]
The “spell number” function is a tool used by accountants and finance professionals to convert numerical values into their written word form. This function is typically used to generate the written representation of a specific amount or value, such as converting “1234.56” to “one thousand two hundred thirty-four and 56/100 dollars.” The spell number function […]
Financial reporting consolidation is the process of combining financial data from various business units or subsidiaries within an organization to produce a consolidated set of financial statements. This process involves collecting, validating, and aggregating financial information from various sources to provide a comprehensive view of an organization’s financial position, performance, and cash flow. The process […]
The Bhagavad Gita is a sacred Hindu scripture that is considered one of the most important texts in the world. It is a dialogue between Lord Krishna and Arjuna, which takes place on the battlefield of Kurukshetra, just before the start of the great war of Mahabharata. The Gita consists of 18 chapters and is […]
What is LC (Letter of Credit)? “LC” typically stands for “Letter of Credit.” A Letter of Credit is a document issued by a bank that guarantees payment to a seller for goods or services, provided that certain conditions are met. Essentially, the bank acts as an intermediary between the buyer and the seller, ensuring that […]
AP and AR are both important accounting terms used to manage a company’s finances. AP stands for Accounts Payable, which refers to the amount of money that a company owes to its vendors, suppliers, or other creditors for goods and services that have been received but not yet paid for. Essentially, it’s the amount that […]
Learning about the stock market can seem overwhelming, but with the right approach, it can be a rewarding and fulfilling experience. Here are some steps you can follow to learn about the stock market: In summary, learning about the stock market requires a combination of reading, research, and practical experience. By following these steps, you […]
Product costing is a crucial aspect of managing a manufacturing concern, as it allows businesses to determine the total cost of producing a product. Knowing the total cost of production is important because it helps in setting a selling price that ensures profitability. In this blog, we will discuss how to do product costing for […]
Accounting is the process of recording, classifying, summarizing, and interpreting financial information. It is essential for businesses to keep track of their financial transactions and make informed decisions. The primary purpose of accounting is to provide financial information that is useful in making economic decisions. Key Concepts Basic Journal Entries Journal entries are the building […]