What is Contra entry? Examples
Contra entry is the entry which same account can be debited and credited in contrary situation. Ex: we debit bank account when depositing cash. At… Read More »What is Contra entry? Examples
Business Accounts
Cash Book: Types of Cash Books
Cash book is a book of original entry in which all the business transactions relating to cash receipts and payments are recorded in chronological order.… Read More »Cash Book: Types of Cash Books
What is Accounting? Components of Accounting
Accounting is the recording of financial transactions along with storing, Sorting, Retrieving, Summarizing, and presenting the results in various reports and analyses. Accounting is also… Read More »What is Accounting? Components of Accounting
Overhead Costs in Cost Management
Overhead costs are indirect costs that can’t be traced back to a specific product as well as ongoing administrative expenses that do not generate revenues. These costs… Read More »Overhead Costs in Cost Management
Difference between Accuracy and Precision
Accuracy and precision are two important factors to consider when taking data measurements. Both accuracy and precision reflect how close a measurement is to an actual value,… Read More »Difference between Accuracy and Precision
Classification of Balance sheet
Classification of Balance sheet presents information about an entity’s assets, liabilities, and shareholders’ equity that is classified into subcategories of accounts. It is extremely useful… Read More »Classification of Balance sheet
What is Firm: Objectives of a Firm
Meaning of Firm According to Professor S.E. Landsbury___” Firm is an organization that produces and sell goods with the goal of maximizing its profits”. According to… Read More »What is Firm: Objectives of a Firm
Corporate Risk Management: Features
Meaning and Definition of Corporate Risk Management Corporate risk management is the practice of defining the risk level a firm desires, identifying the risk level… Read More »Corporate Risk Management: Features
Vertical Integration
Vertical integration is a competitive strategy by which a company takes complete control over one or more stages in the production or distribution of a… Read More »Vertical Integration
Horizontal Integration
Horizontal Integration Horizontal integration is the process of acquiring or merging with competitors, leading to industry consolidation. It is a strategy where a company acquires,… Read More »Horizontal Integration