Accounting
What Is Shareholder’s Equity: Definition And Importance
Last Updated: May 20, 2025Introduction Do you run a small business in India? Then, you need to know about something crucial—shareholder’s equity. It may sound like...
What Is Unearned Revenue: Definition And Benefits
Last Updated: May 20, 2025What Is Unearned Revenue? Unearned revenue means money a business gets before giving goods or services. People also call it deferred revenue....
What Is Net Income: Definition And Formula
Last Updated: May 16, 2025What Is Net Income? Net income is the money your business makes after paying for everything. This includes things like the cost...
What Is Operating Cost: Definition And Types
Last Updated: May 16, 2025Introduction Running a business in India takes hard work, smart planning, and money. One crucial aspect of running a successful business is...
What Is Operating Profit: Definition And Importance
Last Updated: May 16, 2025What Is Operating Profit? Operating profit is the money your business makes from its regular work—like selling products or giving services—after you...
What Is Profit: A Simple Guide
Last Updated: May 16, 2025Running a business takes a lot of effort. But one thing matters most—profit. Without it, a business cannot grow or survive for...
What Is Profit Record: A Simple Guide
Last Updated: May 15, 2025What Are Profit Records? Profit records show how much money a business makes and spends. They are like a money diary for...
What Is Post Date Cheque
Last Updated: May 15, 2025What Is a Post-Dated Cheque? A post-dated cheque is a cheque written with a future date. This means the person who receives...
What Is Loan: How It Helps
Last Updated: May 15, 2025What Is a Loan and Why Is It Helpful? Starting or expanding a small business requires capital. One common way to acquire...
What Is Liquidity: Definition And Benefits
Last Updated: May 15, 2025What Does Liquidity Mean? Liquidity refers to how easily one can turn something into cash. In simple words, it tells you...
What Is Interest Expense: Definition And Types
Last Updated: May 15, 2025What Is Interest Expense? Interest expense is the extra money a business pays when it borrows money from a bank or lender....
What Is Internal Audit: A Simple Guide
Last Updated: May 14, 2025What Is an Internal Audit? An internal audit checks how well your business is working. It looks at how you manage money,...
What Is Indirect Cost: Features And Types
Last Updated: May 14, 2025What Are Indirect Costs? Running a business costs money. Some costs are easy to see, like buying raw materials or paying someone...
What Is Cash Flow: Definition And Importance
Last Updated: May 14, 2025What Is Cash Flow? Cash flow refers to the movement of money into and out of your business. It assists in assessing...
What Is Expense Tracking: Definition And Importance
Last Updated: May 14, 2025What Is Expense Tracking? Expense tracking means writing and keeping a record of all your business spending. This includes: Daily costs like...
What Is Credit Entries: A Simple Guide
Last Updated: May 14, 2025What Is a Credit Entry? A credit entry is a record in accounting. It shows money coming in or going out, depending...
What Is Debit Entries: A Simple Guide
Last Updated: May 14, 2025Introduction to Debit Entries Managing a business involves monitoring the flow of your finances. A crucial method for achieving this is through...
What Is Direct Cost: A Simple Guide
Last Updated: May 13, 2025What Are Direct Costs? Direct costs refer to the expenses that directly link to making a product or delivering a service....
What Is Financial Record: A Complete Guide
Last Updated: May 13, 2025Introduction Financial records are papers or files that show how money moves in and out of a business. They include things like...
What Is Adjusting Entries: Definition And Benefits
Last Updated: May 13, 2025What Are Adjusting Entries? Adjusting entries are changes made to your books at the end of an accounting period. Think of them...
What Is Fixed Cost: A Simple Guide
Last Updated: May 13, 2025What Are Fixed Costs? Every small business has recurring expenses, even during periods of low sales. We call these fixed costs. They...
What Is The Accounting Period
Last Updated: May 13, 2025For small business owners in India, keeping a close eye on your finances is crucial. A key step in this process is...
What Is Capital Cost: A Simple Guide
Last Updated: May 13, 2025Starting or running a small business in India means thinking about many things. One of these things is something called capital cost....
What Is An Accountant: Definition And Responsibilities
Last Updated: May 13, 2025What Is an Accountant? Running a small business involves numerous responsibilities and financial management can become overwhelming. That’s where a financial expert...
What Is Treasury Stock: Definition And Benefits
Last Updated: May 7, 2025What Is Treasury Stock? Treasury stock means shares that a company buys back from the people who once owned them. After...
What Is Dividends In Arrears
Last Updated: May 6, 2025Introduction Many small business owners hear the word “dividends” and wonder what it means, especially if they have preferred shares. Sometimes, a...
What Is Depletion In Accounting
Last Updated: May 6, 2025Introduction If your small business is involved with natural resources like oil, gas, coal, or trees, this guide is for you. When...
What Is Incremental Revenue: A Complete Guide
Last Updated: May 2, 2025As a small business proprietor, your goal is to expand and increase profits. To make informed decisions, it’s essential to monitor your...
What Is Capital Budgeting: A Complete Guide
Last Updated: April 28, 2025Introduction Running a small business is exciting! But making smart money choices is important for growth. This is where capital budgeting comes...
What Is A Comparative Balance Sheet
Last Updated: April 29, 2025Introduction Running a small business means keeping an eye on your money all the time. You need to know how healthy...
What Is Contributed Capital: A Simple Guide
Last Updated: April 29, 2025What is Contributed Capital? Contributed capital is the money that people (called shareholders) give to a business when they buy shares (pieces...
What Is Condensed Balance Sheet
Last Updated: April 26, 2025Running a small business can be tough. You handle products, customers, money, and a lot more. One thing that helps you manage...
What Is Continuous Budget: A Simple Guide
Last Updated: April 26, 2025What Is Continuous Budgeting? Think of a budget like a money plan. Most people and businesses make one for the whole year....
What Is Budget Variance: A Simple Guide
Last Updated: April 25, 2025What is Budget Variance? Budget variance is the difference between two things: What your business planned (your budget) What happened (your actual...
What Is Accumulated Depreciation: A Complete Guide
Last Updated: April 28, 2025Introduction Accumulated depreciation refers to the gradual loss of value of significant business assets, like machines or vehicles, over time. Accumulated depreciation means...
What Is Accrued Revenue: A Simple Guide
Last Updated: April 25, 2025What Is Accrued Revenue? Accrued revenue is money a business has earned but has not received yet. This means you did the...
What Is Accrued Liability: Definition And Features
Last Updated: April 28, 2025What Are Accrued Liabilities? Accrued liabilities are costs your business owes but hasn’t paid yet. These are things like unpaid wages, electricity...
What Is Adjunct Account: A Simple Guide
Last Updated: April 25, 2025What Is an Adjunct Account? An adjunct account is like a helper account in your books. It works with your main accounts...
What Are T-Accounts: A Simple Guide
Last Updated: April 25, 2025Do you own a small business? Want a better grip on your finances? Then this guide is made just for you. In...
What Is Accumulated Depletion: A Simple Guide
Last Updated: April 24, 2025Running a small business is hard work. If your business uses natural resources like oil, gas, coal, or timber, there is something...
What Is Return on Capital Employed (ROCE)
Last Updated: April 24, 2025What Is ROCE? ROCE stands for Return on Capital Employed. A way to check how well a business is using its money...
What is Paid-In Capital
Last Updated: April 24, 2025What Does Paid-In Capital Mean? If you have a small business or plan to start one, you should know about something called Paid-In...
What Is Working Capital Ratio
Last Updated: April 23, 2025Introduction What Is the Working Capital Ratio? Running a small business in India can be exciting, but it also means keeping your...
What Is Zero-Based Budgeting
Last Updated: April 23, 2025Running a small business requires tight control over finances. We must put every rupee to good use, and smart spending drives progress....
What Is Tangible Assets: Definition And Benefits
Last Updated: April 22, 2025What Are Tangible Assets? Tangible assets are things you can see and touch. These are real, physical items that help your business...
What Are Accounts Payable: Definition And Features
Last Updated: May 14, 2025Operating a small business requires managing the flow of funds, both outgoing and incoming. One key part of handling your money is...
What Is An Encumbered Asset
Last Updated: April 21, 2025What Is an Encumbered Asset? An encumbered asset refers to an asset that your business owns and uses to secure a...
What Is Insolvency In Accounting
Last Updated: April 20, 2025What Is Insolvency? Insolvency happens when a person or business can’t pay their bills on time. This means they owe more...
What Is A Cash Flow Projection
Last Updated: April 17, 2025What Is a Cash Flow Projection? A cash flow projection is a financial plan that outlines the expected inflow and outflow of...
What Is Opening Balance: A Simple Guide
Last Updated: April 17, 2025What Is an Opening Balance? An opening balance is the amount of money a business has at the start of a new...
What Is A Chart Of Accounts
Last Updated: April 17, 2025Running a small business in India is exciting, but it also takes good planning, especially with money. To keep your finances in...
What Are Intangible Assets: Definition And Features
Last Updated: May 6, 2025Running a small business is exciting but also a bit tricky. To do well, you need to know about more than just...
What Is Drawings In Accounting
Last Updated: April 10, 2025This guide explains drawings in small businesses, their significance, impact on finances, and proper management techniques. What Are Business Drawings? Business Drawing...
What Is Debt: Definition And Types
Last Updated: May 14, 2025Running a small business comes with its unique challenges. Sufficient financial resources are crucial for starting, growing, and staying competitive. At times,...
What Are Cash Equivalents: Definition And Types
Last Updated: April 8, 2025What Are Cash Equivalents? Cash equivalents refer to short-term investments that can be swiftly converted into cash. They are considered secure and...
What Is Deferred Income: Definition And Importance
Last Updated: May 14, 2025Running a small business demands careful financial management, and understanding deferred income is essential. Although the term might appear complicated, it signifies...
What Is Deferred Tax: A Simple Guide
Last Updated: April 9, 2025What Is Deferred Tax? Deferred tax refers to taxes that are either postponed or anticipated, depending on differences between accounting income and...
What Is Current Ratio In Business
Last Updated: April 9, 2025What Is the Current Ratio? The Current Ratio is a number that shows if a business can pay its short-term bills....
What Is Budget In Accounting
Last Updated: April 9, 2025Are you running a small business in India and looking to manage your finances more efficiently? This manual breaks down budgeting into...
What Is EBITDA: A Simple Guide
Last Updated: April 7, 2025What Is EBITDA Running a small business means keeping track of how much money your company makes. One way to do this...
What Is Net National Product (NNP)
Last Updated: April 5, 2025What Is This Guide All About? Operating a small business in India involves making numerous crucial decisions daily. Enhancing your decision-making skills...
What Is Unabsorbed Depreciation: A Simple Guide
Last Updated: April 5, 2025Introduction Operating a small business in India can be challenging, particularly when it comes to managing taxes. However, there’s no need...
What Is Capital Rationing: A Simple Guide
Last Updated: April 5, 2025Introduction Running a small business requires smart financial decisions. With limited funds, every rupee must be used wisely. This is where capital...
What Is Unrealized Gain or Loss
Last Updated: April 3, 2025What Is an Unrealized Gain or Loss? An unrealized gain is when something you own becomes worth more, but you haven’t...
What Is Bounced Payment: A Simple Guide
Last Updated: April 3, 2025Operating a small business in India can be thrilling. You offer your products or services, receive payments, expand your enterprise, and collaborate...
What Is Factoring In Accounting
Last Updated: April 3, 2025Operating a small business frequently requires meticulous financial management. Having sufficient funds to cover employee wages, purchase materials, and handle everyday...
What Is Owner’s Equity And How To Calculate
Last Updated: April 3, 2025Introduction: What Is Owner’s Equity? Imagine you run a small business. You’ve invested your funds, purchased some items, and begun offering products...
What Is Retained Earning: A Simple Guide
Last Updated: April 3, 2025What Are Retained Earnings? Retained earnings refer to the funds a company retains after covering all expenses and distributing dividends. The business...
What Is Closing Entries: A Complete Guide
Last Updated: May 13, 2025Understanding Closing Entries in Accounting Managing a small business means keeping good financial records. A key part of this is knowing about...
What Is Statement of Account
Last Updated: April 3, 2025Running a small business means keeping track of your money. One way to do this is by using something called a “Statement...
What Is Earnings Before Interest and Taxes (EBIT)
Last Updated: April 1, 2025What Is EBIT? EBIT stands for Earnings Before Interest and Taxes. You may also hear it called operating profit or operating income....
What Is Annual Report In Accounting
Last Updated: April 1, 2025What Is an Annual Report? An Annual Report is a document that outlines a company’s performance. Released annually, it presents key information...
What Is Bootstrapping In Business
Last Updated: April 1, 2025What is Bootstrapping? Bootstrapping refers to launching a business using personal funds. You rely on your savings, initial sales, and prudent budgeting...
What Is Book Value In Accounting
Last Updated: April 1, 2025What Is Book Value? Book value represents the worth of an asset as recorded by your business—calculated from its initial purchase price,...
What Is Amortization In Accounting
Last Updated: May 8, 2025What Is Amortization? Amortization refers to distributing expenses over a period. It assists in managing loans and non-physical items, known as intangible...
What Is Balance Sheet In Accounting
Last Updated: May 6, 2025What Is a Balance Sheet? A balance sheet is like a picture of your business’s money at one moment in time. It...
What Is Data Mining In Accounting
Last Updated: March 31, 2025What Is Data Mining? Data mining is a method for uncovering valuable insights within large datasets. In the field of accounting, it...
What Is Full And Final Settlement
Last Updated: April 19, 2025When someone leaves a job, they should get all the money the company owes them. We call this a full and final...
What Is Gross Profit In Accounting
Last Updated: March 31, 2025What Is Gross Profit? Gross profit indicates the revenue your company earns after covering the cost of the products it sells. This...
What Is Reimbursement In Accounting
Last Updated: March 31, 2025Small business owners cannot overlook finances as a crucial aspect. Managing money wisely is key to business expansion. A significant part of...
What Is Sunk Cost In Accounting
Last Updated: March 31, 2025Introduction: What Is a Sunk Cost? A sunk cost is money that has already been spent and cannot be recovered. This is...
What Is Travel Expense In Cost Accounting
Last Updated: March 31, 2025Operating a small business requires time, financial resources, and strategic planning. A crucial aspect to handle effectively is travel expenses. Whether you...
What Is Value Chain In Management Accounting
Last Updated: April 2, 2025Are you a small business proprietor or keen on enhancing your management abilities? If that’s the case, understanding the value chain is...
What Is Acquistion In Accounting
Last Updated: April 10, 2025Introduction: An acquisition happens when one company buys most or all of another company. This means the buying company gets control over...
What Is Accretion In Accounting
Last Updated: May 6, 2025What Is Accretion Accounting? Accretion accounting helps businesses track how money grows over time. It shows how assets, like bonds and contracts,...
What Is Undercast In Accounting
Last Updated: March 28, 2025What Is Undercasting in Accounting? Undercasting occurs when a business records lower numbers than the actual amounts in its financial books. This...
What Is Throughput Accounting Ratio
Last Updated: April 2, 2025Introduction to Throughput Accounting Ratio What is the Throughput Accounting Ratio? The Throughput Accounting Ratio (TAR) helps businesses measure how well they...
What Is Secret Reserve In Accounting
Last Updated: April 22, 2025What Are Secret Reserves? Secret reserves, also called hidden reserves, are extra financial cushions that do not appear in public financial reports....
What Is PAT In Accounting
Last Updated: April 15, 2025Introduction Running a business means keeping track of money. One important number to know is Profit After Tax (PAT). This is...
What Is Offsetting In Accounting
Last Updated: April 22, 2025What is Offsetting in Accounting? Offsetting in accounting helps businesses balance their financial accounts. It means reducing one account, like money owed,...
What Is NPV In Accounting
Last Updated: March 28, 2025What Is Net Present Value (NPV)? Net Present Value (NPV) helps businesses decide if an investment is a good idea. It compares...
What Is Marshalling In Accounting
Last Updated: March 31, 2025What Is Marshalling in Accounting? Marshalling is a simple way to organize financial information in accounting. It helps businesses arrange their assets...
What Is Mark Up In Accounting
Last Updated: April 14, 2025Introduction Running a small business means making smart money decisions. One of the most important concepts to understand is markup. This helps...
What Is JIB In Accounting
Last Updated: March 28, 2025What is JIB Accounting? JIB (Joint Interest Billing) Accounting is a way for businesses to share costs and expenses. It is mainly...
What Is IRR In Accounting
Last Updated: March 28, 2025Introduction to Internal Rate of Return (IRR) The Internal Rate of Return (IRR) helps businesses figure out if an investment will be...
What Is IOU In Accounting
Last Updated: March 28, 2025Understanding IOUs and Their Role in Small Businesses Managing money is a big part of running a small business. Keeping track of...
What Is Gearing Ratio In Accounting
Last Updated: April 10, 2025What Is the Gearing Ratio? The gearing ratio tells you how much of a company’s money comes from loans versus how much...
What Is Gearing In Accounting
Last Updated: April 9, 2025Introduction Gearing is an important idea in accounting. It helps a business owner understand how much of their company is funded by...
What Is Forfeiture Of Shares In Accounting
Last Updated: March 28, 2025What Is Share Forfeiture? Share forfeiture happens when a company takes back shares from a shareholder who fails to pay for them....
What Is Footing In Accounting
Last Updated: March 28, 2025Keeping accurate financial records is important for every business. One key part of this is footing. This guide explains footing in simple...
What Is Endowment Fund In Accounting
Last Updated: March 28, 2025What Is an Endowment Fund? An endowment fund is a special pool of money that helps support an organization over time. Schools,...
What Is A Deficit In Accounting
Last Updated: March 31, 2025A deficit in accounting happens when a business spends more money than it earns. This is important for small business owners to...
What Is CVP Analysis In Management Accounting
Last Updated: March 28, 2025What Is CVP Analysis? CVP (Cost-Volume-Profit) Analysis helps businesses understand how costs, sales, and profits are interconnected. It shows how changes in...
What Is Capital Expenditure (CapEx) In Accounting
Last Updated: May 7, 2025Introduction to CapEx Accounting What is CapEx? Capital Expenditure (CapEx) is the money a business uses to buy, maintain, or improve fixed...
What Is CAGR In Accounting
Last Updated: March 28, 2025What Is CAGR? CAGR stands for Compound Annual Growth Rate. It helps businesses understand how fast their money grows over time....
What Is Bonus Shares In Accounting
Last Updated: March 28, 2025What Are Bonus Shares? Bonus shares are extra shares a company gives to its existing shareholders for free. Instead of paying them...
What Is Audit Trail In Accounting
Last Updated: March 28, 2025Keeping track of money is important, especially for small businesses. An audit trail helps you record every financial step clearly so that...
What Is Appreciation In Accounting
Last Updated: March 25, 2025What is Appreciation in Accounting? Appreciation means an asset gains value over time. This can happen because of higher demand, upgrades, or...
What Is A Variable Cost In Accounting
Last Updated: May 13, 2025What Are Variable Costs? Variable costs change based on how much a business produces or sells. If a business makes more products,...
What Is A Segment In Accounting
Last Updated: March 25, 2025What is Segment Accounting? Segment accounting helps businesses divide their finances into different parts. You can base these parts on products, services,...
What Is A Requisition In Accounting
Last Updated: March 25, 2025What is a Requisition? A requisition is a simple request a company makes to get goods, services, or materials. It helps...
What Is A Cost Report In Accounting
Last Updated: March 25, 2025Introduction to Cost Reports A cost report is a document that helps businesses track their expenses. It shows how much money a...
What Does Impairment Mean In Accounting
Last Updated: April 1, 2025What is Impairment in Accounting? In accounting, impairment means an asset has lost value. It is now worth less than what the...
What Is Capital Cost Allowance (CCA) In Accounting
Last Updated: March 25, 2025Introduction to Capital Cost Allowance (CCA) Capital Cost Allowance (CCA) is a tax benefit that helps businesses save money. It allows companies...
What Is VAT In Accounting
Last Updated: March 25, 2025Introduction Taxes can seem confusing, especially for small business owners in India. One important tax to understand is Value Added Tax (VAT)....
What Is Kiting In Accounting
Last Updated: March 25, 2025What is Kiting in Accounting? Kiting in accounting is a type of fraud. It happens when someone writes a check even...
What Is Acid Test Ratio In Accounting
Last Updated: March 25, 2025What Is the Acid Test Ratio? The acid test ratio, or quick ratio, shows how much cash a business has to...
What Is WACC In Accounting
Last Updated: April 21, 2025If you run a small business, you may have heard of WACC but aren’t sure what it means. Don’t worry! We’re here...
What Is Trial Balance In Accounting With Examples
Last Updated: May 13, 2025What Is a Trial Balance? Keeping track of your money is crucial if you run a small business. A trial balance helps...
What Is IBNR In Accounting
Last Updated: March 25, 2025What Is IBNR? IBNR stands for Incurred But Not Reported. It refers to costs or claims that occurred but have not yet...
What Is Dupont Analysis In Accounting
Last Updated: March 25, 2025What Is DuPont Analysis? DuPont Analysis assesses how well a business is performing financially. It helps business owners see what is affecting...
What Is M&E In Accounting
Last Updated: March 25, 2025Introduction: What is M&E in Accounting? Monitoring and Evaluation (M&E) is a simple way to keep track of a business’s financial health....
What Is Solvency Ratio In Accounting
Last Updated: March 25, 2025Introduction Running a small business comes with many financial responsibilities. One important factor to consider is whether your business can survive in...
What Is PBT in Accounting
Last Updated: March 25, 2025What is Profit Before Tax (PBT)? Running a business means keeping track of many numbers. One important number is Profit Before Tax...
What Is O2C Process In Accounting
Last Updated: April 15, 2025Introduction: Understanding the Order to Cash (O2C) Process Running a small business in India means managing your money wisely. One important part...
What Is Profitability Index (PI) In Accounting
Last Updated: March 25, 2025What is the Profitability Index? Running a small business means making smart choices about where to invest your money. The Profitability Index...
What Is LCM In Accounting
Last Updated: March 25, 2025Introduction to Inventory Valuation for Small Businesses If you own a small business, managing inventory is crucial. The value of your...
What Is Sub Contract In Cost Accounting
Last Updated: April 24, 2025Introduction to Sub-Contracting Sub-contracting is a helpful strategy for small businesses. It means hiring someone outside your company to do specific work....
What Is ESOP In Accounting
Last Updated: April 21, 2025Introduction Employee Stock Ownership Plans (ESOPs) let employees own part of the company they work for. This means they get a share...
What Does NSF Stand For In Accounting
Last Updated: March 25, 2025What is Non-Sufficient Funds (NSF)? Non-sufficient funds (NSF) means there isn’t enough money in a bank account to complete a payment. This...
What Is EPS In Accounting
Last Updated: March 25, 2025Earnings Per Share (EPS) is a key number that shows how much profit a company makes for each of its shares. If...
What Is OCI In Accounting
Last Updated: May 16, 2025Running a small business means keeping track of money coming in and going out. But did you know there’s more to financial...
What Is A Deferral In Accounting
Last Updated: May 13, 2025What Are Deferrals in Accounting? In accounting, deferrals help businesses track money at the right time. Sometimes, companies receive payment before completing...
What Is Rebate In Accounting
Last Updated: April 22, 2025Introduction Running a small business means keeping track of many things, including rebates. A rebate is a partial refund or money-back offer...
What Is PPE In Accounting
Last Updated: March 31, 2025Introduction to Property, Plant, and Equipment (PPE) Property, plant, and equipment (PPE) are important assets that businesses have used for a long time. These include land, buildings, machines,...
What Is Petty Cash In Accounting
Last Updated: March 28, 2025What is Petty Cash? Petty cash is a small amount of money kept on hand to pay for minor business expenses. It...
What Is Net Profit In Accounting
Last Updated: March 31, 2025What Is Net Profit? Net profit is the money a business keeps after paying all its expenses. People call it the bottom...
What Is Joint Product In Cost Accounting
Last Updated: April 14, 2025What Are Joint Products? Joint products are two or more products made together in the same production process. They share the same...
What Is Flexible Budget In Management Accounting
Last Updated: March 31, 2025What Is Flexible Budgeting? A flexible budget is a way of managing money that changes based on how a business is...
What Is Fixture In Accounting
Last Updated: April 19, 2025Introduction In accounting, a fixture is something attached to a property that becomes a permanent part of it. You cannot remove items...
What Is Liquidity Ratio In Accounting
Last Updated: May 7, 2025What Are Liquidity Ratios? Liquidity ratios help businesses check if they have enough money to pay their short-term bills. These ratios show...
What Is Cartage In Accounting
Last Updated: March 28, 2025What is Cartage? Cartage is the cost of moving goods over short distances. It usually means transporting items within the same city...
What Is R2R In Accounting
Last Updated: April 2, 2025What Is R2R in Accounting? R2R (Record-to-Report) is the process of gathering financial data, organizing it, and making reports. These reports help...
What Is Window Dressing In Accounting
Last Updated: May 13, 2025Many small businesses want their financial statements to look good. But sometimes, they make their numbers look better than they are. We...
What Is Current Assets In Accounting
Last Updated: March 31, 2025What Are Current Assets? Current assets include items a business owns that can quickly convert into cash. This includes cash, money other...
What Is COGS In Accounting
Last Updated: May 14, 2025What Is COGS? If you own a small business, you need to know about the Cost of Goods Sold (COGS). It tells...
What Is Ratio Analysis In Management Accounting
Last Updated: March 28, 2025What is Ratio Analysis? Ratio analyzing is like a report card for your business. It helps you check if your business is...
What Is Cost Unit In Cost Accounting
Last Updated: May 14, 2025Cost accounting helps small business owners track and manage their expenses. One important concept in cost accounting is the cost unit. It...
What Is Posting In Accounting
Last Updated: March 28, 2025Understanding Posting in Accounting Posting is a key step in accounting. It means moving financial transactions from a journal to a ledger....
What Is Management Accounting: A Simple Guide
Last Updated: May 14, 2025Managing money is a crucial aspect of running a small business. Management accounting helps business owners track income and expenses, making smarter...
What Is A Contingent Liability In Accounting
Last Updated: April 19, 2025Introduction Running a small business comes with many financial responsibilities. One important part of accounting is contingent liability. These are possible costs...
What Is A Collateral Account
Last Updated: May 27, 2025What Is a Collateral Account? A collateral account is a special account where a business keeps valuable assets to secure a loan....
What Is Hedge Accounting: A Simple Guide
Last Updated: March 26, 2025Running a small business in India can be tough, especially with unpredictable financial markets. Prices change, currencies fluctuate, and interest rates go...
What Is Amalgamation In Corporate Accounting
Last Updated: March 26, 2025What is Amalgamation? Amalgamation happens when two or more companies combine to create a new company or merge into an existing one....
What Is XBRL In Accounting
Last Updated: March 26, 2025Introduction to XBRL: A Smarter Way to Manage Finances Running a business means keeping track of money, records, and reports. However, dealing...
What Is Obsolescence In Accounting
Last Updated: March 26, 2025Introduction to Obsolescence in Accounting Businesses must keep track of their asset’s value to stay profitable. Obsolescence in accounting happens when an...
What Is A Write Off In Accounting
Last Updated: March 26, 2025What Is a Write-Off? A write-off is when a business removes an asset’s value or records a customer’s unpaid debt as a...
What Is Intercompany Accounting: A Simple Guide
Last Updated: March 26, 2025Introduction to Intercompany Accounting If you run a small business with multiple branches, you need to track money between them. This is...
What Is MIS In Accounting
Last Updated: April 23, 2025Introduction Running a small business isn’t easy. Managing money, tracking expenses, and making informed decisions all take time and effort. This is...
What Is Realization Concept In Accounting
Last Updated: March 28, 2025What is the Realisation Concept? The Realisation Concept in accounting explains when a business should record income. It states that a...
What Is Marginal Cost In Cost Accounting
Last Updated: May 13, 2025Introduction: What is Marginal Cost? If you own a small business, understanding marginal cost can help you make better decisions. Marginal cost...
What Is Revaluation Account: A Simple Guide
Last Updated: March 31, 2025Managing a business means keeping track of money, assets, and debts. But sometimes, the value of your equipment, property, or stock changes...
What Is Joint Venture Account
Last Updated: March 28, 2025Introduction to Joint Venture Accounts Running a business on your own can be tough. But working together with another company can help...
What Is Going Concern Concept In Accounting
Last Updated: March 28, 2025Running a small business means thinking about the future. But how can you be sure your business will keep going? That’s where...
What Is Profit Centre In Cost Accounting
Last Updated: March 28, 2025Profit centres help businesses keep track of their earnings and spending. They are important for small businesses in India. Profit centres give...
What Is GAAP In Accounting
Last Updated: March 31, 2025What is GAAP? GAAP stands for Generally Accepted Accounting Principles. These are rules that help businesses prepare financial reports in a clear,...
What Is Conservatism Concept In Accounting
Last Updated: March 28, 2025Introduction Accounting helps businesses keep track of money and make good financial decisions. A key rule in accounting is the conservatism principle....
What Is NRV In Accounting
Last Updated: March 31, 2025Introduction to Net Realizable Value (NRV) Net Realizable Value (NRV) is a key accounting concept. It tells you how much money you...
What Do You Mean By Accounting Ratio
Last Updated: March 28, 2025What Are Accounting Ratios? Running a small business can be tough, especially when managing money. Accounting ratios help you understand your business’s...
What Is Abnormal Loss In Cost Accounting
Last Updated: March 28, 2025What is Abnormal Loss? Abnormal loss means unexpected costs that happen during business operations. These costs are different from regular losses, like...
What Is Departmental Accounting: A Simple Guide
Last Updated: March 28, 2025What is Departmental Accounting? Running a small business means keeping track of money—where it comes from and where it goes. But if...
What Is Receipt In Accounting
Last Updated: March 28, 2025Running a small business means keeping track of money. Receipts help make sure you record every transaction properly. A receipt is...
What Is Budgetary Control In Management Accounting
Last Updated: April 1, 2025Managing money is crucial for any small business. One of the best ways to do this is through budgetary control. This...
What Is Reorder Level In Cost Accounting
Last Updated: April 15, 2025What is the Reorder Level? The reorder level (or reorder point) tells businesses when to order more stock. It helps avoid running...
What Do You Mean By Accounting Cycle
Last Updated: May 13, 2025Introduction to the Accounting Cycle The accounting cycle is the process businesses use to track and manage their money. It helps businesses...
What Is Meant By Suspense Account
Last Updated: April 22, 2025What is a Suspense Account? A suspense account is a temporary account used in bookkeeping. If a business has a transaction...
What Is Accounts Receivable: A Simple Guide
Last Updated: April 22, 2025What Is Accounts Receivable? Accounts receivable (AR) is the money that customers owe a business. This happens when they buy products or...
What Is Capital Redemption Reserve Account
Last Updated: April 1, 2025Introduction Managing money is important for any business. If your company buys back preference shares, you need to set aside funds for...
What Is Accounting Year: Definition And Importance
Last Updated: May 12, 2025Understanding and managing your financial reporting period is crucial for small businesses to improve finances, planning, and tax compliance. This guide explains...
What Is Surplus In Accounting
Last Updated: May 12, 2025In simple terms, a surplus happens when a company makes more money than it spends. The money left over after paying for...
What Is Contra Entry In Accounting
Last Updated: May 12, 2025As a small business owner, you may encounter the term “contra entry” and be curious about its meaning. Don’t worry—it’s simple! A...
What Is Working Capital In Accounting
Last Updated: May 12, 2025Working capital represents the liquidity available to a business for its day-to-day operational needs. Calculating involves subtracting current liabilities (short-term financial obligations)...
What Is Single Entry System Of Accounting
Last Updated: May 12, 2025The single-entry accounting method is a straightforward approach to tracking financial transactions in a business. The single-entry system is simpler than the...
What Is Reconciliation Statement In Cost Accounting
Last Updated: January 30, 2025Reconciliation statements are tools that help businesses keep their financial reports accurate. They compare numbers from cost records and financial accounts to...
What Is Purchase Accounting: A Complete Guide
Last Updated: May 6, 2025Purchase accounting may sound complicated, but it’s easier to understand than you think! A business uses a method when it buys another...
What Is Prepaid Expenses In Accounting
Last Updated: May 13, 2025Prepaid expenses are advance payments for goods or services not yet used, treated as assets in accounting. As users utilize the service,...
What Is Patent In Accounting
Last Updated: May 6, 2025Patents are like special keys to protect inventions and ideas. If you make something new and useful, like a product, process, or...
What Is P2P (Procure-to-Pay) In Accounting
Last Updated: January 30, 2025What is Procure-to-Pay (P2P)? Procure-to-pay (P2P) is a clear business process. It includes buying goods or services and paying the suppliers afterward....
What Is Job Costing In Cost Accounting
Last Updated: May 12, 2025Job costing is an accurate approach employed to distribute and track costs linked to specific projects or tasks. It enables businesses to...
What Is Income Statement In Accounting
Last Updated: May 16, 2025An Income Statement—sometimes called a Profit and Loss Statement—helps you understand your business’s financial health. It shows how much money your business...
What Are Goods In Accounting
Last Updated: May 12, 2025What Are Goods in Accounting? Goods refer to the tangible items that a business purchases, manufactures, or sells to generate revenue. These...
What Is Current Liabilities In Accounting
Last Updated: May 12, 2025What Are Current Liabilities? Running a small business requires keeping track of money in and out. One important thing to know is...
What Is A Creditor In Accounting
Last Updated: May 8, 2025A creditor is a person or company that gives your business goods, services, or money. In exchange, you agree to pay them...
What Is Transaction In Accounting
Last Updated: January 29, 2025When you hear the word “accounting,” it might sound complex. But don’t worry—this guide will make it easy! Accounting transactions are just...
What Is Material Control In Cost Accounting
Last Updated: May 8, 2025Material control is all about managing materials smartly. It starts when a business buys materials and continues until those materials are used....
What Is Labour Turnover In Cost Accounting
Last Updated: May 8, 2025What is Labour Turnover? Labour turnover refers to the rate at which labourers leave a business and are replaced by new hires....
What Is Expenditure In Accounting
Last Updated: January 29, 2025What Are Expenditures? Running a business means spending money—on supplies, services, staff, and more. These costs are called expenditures, which is a...
What Are Dividends In Accounting
Last Updated: May 8, 2025Dividends may seem like a complex financial concept, yet they are quite straightforward! A dividend is a reward that a company gives...
What Is Tax Accounting: A Complete Guide
Last Updated: March 31, 2025What is Tax Accounting? Tax accounting is a way to track and handle taxes for a business or individual. It focuses on...
What Is Payroll Accounting: Definition And Importance
Last Updated: May 14, 2025Payroll accounting is one of the most important parts of running a business. It tracks what and how employers pay employees, including...
What Is Cost Sheet In Cost Accounting
Last Updated: May 7, 2025A cost sheet is a detailed document. It lists and organizes all business expenses. This helps with financial analysis and planning. In...
What Is Idle Time In Cost Accounting
Last Updated: January 29, 2025What is Idle Time? Idle time occurs when employees or equipment are not engaged, despite being prepared to perform tasks. This may...
What Is Cost Center In Cost Accounting
Last Updated: January 28, 2025Introduction: What Is a Cost Center? Let’s begin with a straightforward inquiry: What exactly is a cost Center? A cost center is a...
What Is Depreciation In Accounting
Last Updated: April 23, 2025Introduction Running a small business means keeping an eye on your money, assets, and profits. One important part of managing your business...
What Is Expenses In Accounting
Last Updated: February 18, 2025Introduction Operating a business requires funds. These costs, called “expenses”, are what businesses pay to keep things running and earn income. Expenses...
What Is Trade Discount In Accounting
Last Updated: May 7, 2025Have you ever bought more of something just because the seller gave you a deal? That’s essentially the purpose of a trade...
What Is Trend Analysis In Management Accounting
Last Updated: January 28, 2025Introduction to Analyzing Trends Trend analysis is a technique utilized by companies to detect patterns through the examination of past financial data....
What Are Fixed Assets In Accounting
Last Updated: January 28, 2025What Are Fixed Assets? Fixed assets are things your business owns that last a long time and help with daily tasks. These...
What Is Payment In Accounting
Last Updated: April 10, 2025What Is a Payment in Accounting? In accounting, payments refer to giving money from one person or business to another. People usually...
What Is Forensic Accounting: A Simple Guide
Last Updated: May 7, 2025Understanding Forensic Accounting Forensic accounting combines accounting, auditing, and investigation. A way to find and prevent problems in a company’s finances...
What Is Cash Book In Accounting
Last Updated: May 14, 2025Managing your money well is super important when you run a small business. One tool that can make this job easier is...
What Is Cash Basis Accounting
Last Updated: April 22, 2025Introduction Cash-based accounting is an easy way for small businesses to track their money. It records income and expenses only when cash...
What Is Fund Accounting: Understanding The Basics
Last Updated: May 6, 2025What is Fund Accounting? Fund accounting is a special way of keeping financial records. Nonprofits and government organizations mostly use it. Instead...
What Is Corporate Accounting: A Comprehensive Guide
Last Updated: February 4, 2025What Is Corporate Accounting? Corporate accounting is the process of keeping track of a company’s finances. It focuses on managing, reporting, and...
What Is Accrual Basis Of Accounting
Last Updated: May 13, 2025What Is Accrual Basis Accounting? Accrual basis accounting helps you track your business’s money. It gives you a clear and accurate view...
What Is Credit Note In Accounting
Last Updated: June 11, 2025What Are Credit Notes? A credit note is a commercial document issued by a seller to a buyer. Essentially, it serves as...
What Is TDS In Accounting
Last Updated: February 7, 2025“Tax Deducted at Source” (TDS) is an important part of India’s tax system. It collects taxes when people earn income instead of...
What Is General Ledger Accounting
Last Updated: March 21, 2025General ledger accounting is crucial for running a business. It helps you keep track of what’s coming in and what’s going out....
What Is Revenue In Accounting
Last Updated: April 30, 2025Introduction Revenue is a big deal for any business, no matter how small or big it is. It’s the money a business...
What is Credit in Accounting
Last Updated: April 30, 2025Let’s make sense of “credit” and why it matters for small businesses. Credit might sound like a big word, but it’s just...
What is Equity in Business
Last Updated: April 19, 2025Running a business means making lots of big decisions. To do that well, you need to understand some key financial terms. One...
What is Bad Debts in Accounting
Last Updated: April 30, 2025Managing money well is vital for small and medium businesses (SMEs) in India. One significant challenge many companies face is “bad debts.”...
What is Overhead in Cost Accounting
Last Updated: April 30, 2025What is Overhead in Cost Accounting? Overhead in cost accounting refers to the everyday costs of running a business that are not...
What is Invoice in Accounting
Last Updated: April 30, 2025What is Invoice Management? An invoice is a simple document that asks for payment and keeps a record of what was sold...
What is Debtors in Accounting
Last Updated: April 30, 2025If you run a business or plan to, you need to know what “debtors” are. These are people or businesses that owe...