Each book has its own set of depreciation rules, accounts, and calendars to organize and implement your fixed assets accounting policies more effectively. Personal assets can include a home, land, financial securities, jewelry, artwork, gold and silver, or your checking account. Business assets can include such things as motor vehicles, buildings, machinery, equipment, cash, and […]

In short, when calculating NRV, it is considered best practice to be as conservative with your estimates as possible. TranZact is a team of IIT & IIM graduates who have developed a GST compliant, cloud-based, inventory management software for SME manufacturers. It digitizes your entire business operations, right from customer inquiry to dispatch. This also […]

Under this theory, prioritizing the needs and interests of stakeholders over shareholders is more likely to lead to long-term success, both for the business and for the communities that it is a part of. This stakeholder mindset is, in turn, likely to create long-term value for both shareholders and stakeholders. In modern times, an investor […]

Various other costs and expenses can be included if they are variable and directly related to the company’s output of products and services. The formula for gross profit is calculated by subtracting the cost of goods sold (COGS) from the company’s revenue. Gross profit is a company’s profit after subtracting the costs directly linked to […]

Entry-level professionals help senior analysts create and implement annual budgets. They report to the chief financial officer or finance department head. Before accounting clerks can perform their duties successfully and become best on the job, they need to possess a handful of required skills and qualities. The job search can be a stressful but necessary […]