What is a Master Budget?
The master budget presents the summary of various functional budgets. It is prepared by consolidating different budgets and helps project profit and loss accounts and… Read More »What is a Master Budget?
Business Accounts
What is NBFC?
NBFC stands for Non-Banking Financial Company and is highly involved in financial activities such as secured & unsecured loans, marketplace lending, leasing, hire-purchase, insurance business,… Read More »What is NBFC?
What is Government Budget?
A government budget refers to an annual financial statement that denotes its anticipated expenditure and expected revenue generation in a fiscal year. It is presented… Read More »What is Government Budget?
Difference Between Reserve and Provision
Reserve and Provision are two common terms often discussed in business. Both these terms are important for maintaining the integrity of a business. Difference Between… Read More »Difference Between Reserve and Provision
Sacrificing Ratio vs Gaining Ratio
Sacrificing Ratio Sacrificing Ratio is the ratio of sacrifice as to the part of profit made by the old partners, in favor of the one… Read More »Sacrificing Ratio vs Gaining Ratio
What is the Gaining Ratio?
Gaining Ratio is a term that is frequent in the Partnership Accounts. This ratio means the share of profit gained by a partner with some reconstitution… Read More »What is the Gaining Ratio?
What is Commercial Paper?
The commercial paper refers to a short-term, unsecured debt obligation that is issued by financial institutions and large corporations as an alternative to costlier methods of… Read More »What is Commercial Paper?
Indirect Taxes
Indirect taxes are taxes that can be passed on to another entity or individual. They are usually imposed on a manufacturer or supplier who then… Read More »Indirect Taxes
What is Direct Tax?
Direct Tax is a type of tax where the impact and the incidence fall under the same category and can be defined as a Direct… Read More »What is Direct Tax?
Golden Rules of Accounting
The golden rules of accounting apply to the types of accounts related to a financial transaction. There are three golden rules of accounting, which we… Read More »Golden Rules of Accounting