Revenue is the income generated from normal business operations and includes discounts and deductions for returned merchandise. It is the top line or gross income figure from which costs are subtracted to determine net income. ​Sales Revenue=Sales Price×Number of Units Sold​ Revenue is also known …
Revenue is the income generated from normal business operations and includes discounts and deductions for returned merchandise. It is the top line or gross income figure from which costs are subtracted to determine net income. ​Sales Revenue=Sales Price×Number of Units Sold​ Revenue is also known …
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 lessor uses the residual value as one of its primary …
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 tied to certain assets. This line item can be used …
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 an expected legal settlement, pay for repairs & maintenance and …
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 before the asset’s maturity date. Investors can make redemptions by …
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 the prospectus at the time of issuance of preference shares …
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, expenses losses (i.e. cash outflow side) in a proactive manner …
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 is simply a loss because it is charged to profit …
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 although the exact amount is unknown. Provision cannot be seen …