The residual value, also known as salvage value, is the estimated value of a fixed asset at the end of its lease term or useful life. In lease situations, the …
What Is Revaluation Reserve? Revaluation reserve is an accounting term used when a company creates a line item on its balance sheet for the purpose of maintaining a reserve account …
Meaning of Reserves Reserves are part of profits or gain that has been allotted for a specific purpose. Reserves are usually set up to buy fixed assets, pay bonuses, pay …
The term redemption has different uses in the finance and business world, depending on the context. In finance, redemption describes the repayment of any money market fixed-income security at or …
Redeemable preference shares are those shares where the issuer of the share has the right to redeem the shares within 20 years of the issuance at pre-determined price mentioned in …
Introduction to Prudence Concept in Accounting Prudence concept in accounting (also known as conservatism) is a fundamental accounting concept which is based on the conservative approach of estimating the liabilities, …
Bad debt provision is reserve made to show the estimated percentage of the total bad and doubtful debts that needed to be written off in the next year and it …
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Provisions in accounting refer to the amount that is generally put aside from the profit in order to meet a probable future expense or a reduction in the asset value …
A promissory note is a financial instrument that contains a written promise by one party (the note’s issuer or maker) to pay another party (the note’s payee) a definite sum …
