What is Equity?
Equity is ownership of assets that may have debts or other liabilities attached to them. It is measured for accounting purposes by subtracting liabilities from… Read More »What is Equity?
Business Accounts
What is Gross vs Net?
Gross means the total or whole amount of before deductions. Net means what remains from the whole after certain deductions are made. For example, a… Read More »What is Gross vs Net?
What is Amortization?
Amortization is an accounting technique used to periodically lower the book value of a loan or intangible asset over a set period of time. Concerning… Read More »What is Amortization?
What is Fiscal Year?
A fiscal year is a 12-month period that an organization uses to report its finances. It could be a 12-month period of time or a… Read More »What is Fiscal Year?
What are Accounting Statements?
We have three accounting statements. A complete set of accounting statements are used to give readers an overview of the financial results and condition of… Read More »What are Accounting Statements?
What is Non-Profit Organization?
A non-profit organization also known as a nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in contrast… Read More »What is Non-Profit Organization?
What is Single Entry System?
A single Entry System is a method of keeping records of financial transactions, which is rarely prevalent these days. In this system, only one side… Read More »What is Single Entry System?
What is RTGS? (Real-Time Gross Settlement)
RTGS is a short form for Real-Time Gross Settlement. It is a facility provided by the banks, that allows instant and complete settlement of funds… Read More »What is RTGS? (Real-Time Gross Settlement)
What is Business Forecasting?
Business forecasting is the process of estimating future economic conditions based on past and present information. It refers to the technique of taking a prospective… Read More »What is Business Forecasting?
What is Forecasting?
Forecasting is an important tool for making informed business decisions. Regardless of the size and profile of a company, It helps the organization’s management anticipate… Read More »What is Forecasting?