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Inventory and Cost of Goods Sold [Part 6]
[ source ] Methods of Estimating Inventory There are two methods for estimating ending inventory: 1. Gross Profit Method 2. Reta...
Major Differences Detween Cash and Accrual Accounting
Major Differences Detween Cash and Accrual Accounting The difference between cash and accrual accounting stems from the fact that most bu...
List of Indian Accounting Standards
The following are the mandatory Accounting Standards (AS) as on July 1, 2012 as listed on the site of The Institute of Chartered Accoun...
General Ledger Accounts
The accounts that are used to sort and store transactions are found in the company's general ledger . The general ledger is often arra...
Accounting Concepts
A ccounts are records of financial transactions. Information that is used in accounts is initially entered into books of prime entry,...
What Is Inventory?
I think of inventory as a company's goods on hand, which is often a significant current asset. Inventory serves as a buffer between a ...
Accounting Equation
Definition, Meaning, and Usage The Accounting equation is a commonly used name for the properties of the balance sheet: Assets = ...
How to Avoid Coming on Too Strong in Your Job Search
How to Avoid Coming on Too Strong in Your Job Search During the job search, it’s all too easy to feel emotionally involved. After...
Cost Allocation
Cost Allocation Cost allocation (also called cost assignment) is the process of finding cost of different cost objects such as a proj...
Balance Sheet
Balance Sheet The balance sheet is one of the four main financial statements of a business: Balance Sheet Income Statement Cash Flo...
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