Balance Sheet, or otherwise known as position statement, is a statement which shows the financial position of the company on a specific date. It lists…
Trading Account is an account that is prepared by the entities to know the profit earned or loss suffered from trading activities. On the other…
Net profit can be understood as the profit arrived after working on all expenses (both cash and non-cash), interest, taxes, and losses. It is the actual…
Revenue, profit and income, are three terms which sound same to a layman, although in business terminology there is a huge difference between them. Revenue implies the…
Business is carried out with an aim of earning profit. It works as an incentive to the entrepreneur, for the risk taken and resources spent,…