Depreciation is not a good word to hear. This seems contrary to “praise” which is very strange. But all of you will probably appreciate tax savings, depreciation helps you save tax. Even if you depreciate everything for your accountant, brush up on the basics and make sure you are taking advantage of the maximum depreciation. # What is Depreciation? Depreciation… Read More »Definition of Depreciation? Depreciation Expense Vs. Accumulated Depreciation

Working capital management plays a very important role in the success of any business venture. More and more companies that are running into losses or struggling financially will be profitable and liquid. The working capital management system helps you determine whether productive capital can be held for productive uses. Many finance professionals & business experts often ignore the importance of… Read More »What is Working Capital Management? Importance, Components, and Benefits

The accounts receivable stores the payments received by the business. For a growing business, it is important that accounts receivable, or incoming payments, are managed effectively. When mismanaged, the money can dry up without notice. This can lead to important pending decisions, and even worse, as a result, it may affect a business’s ability to pay vendors, meet tax obligations… Read More »Tips to Manage Your Accounts Receivable More Efficiently

The term receivable stands for the payment of the amount received. This means that account receivable (AR) is the unpaid balance of money from your receivers/customers end for the products or services you sold to your customers. It represents any purchase that is based on customer credit and is shown on your balance sheet as an existing balance. # What… Read More »Account Receivable – What is it? Functions, Process & How to Calculate Turnover Ratio?

The list of products depends upon the specific vendor, they can sell a variety of items including food & drink, wood, bags, simple tools, and minor weapons, etc. Here is a regular product list for the general store- RICE and FLOURS Turmeric powder – 100 gms Sugar – 1 kg Jaggery – 1/2 kg Idli rice/Boiled rice/Salem rice – 5-7… Read More »Items List for General Store

There are at least two reasons to buy insurances. First, and most important, is for protection from harm by any catastrophic event. A car accident can lead to consequences such as a serious financial deficiency at the time of an illness or injury, or death. Specially it helps protect against financial losses. # What is Insurance? An insurance policy/plan is… Read More »What is Insurance? Functions, Benefits & How does It Work?