They Are The Equivalent Of A 'chartered Accountant' In The Uk And Other Commonwealth Countries.

chartered accountant

A Fund Is An Amount Of Money That Is Set Aside For A Certain Purpose.

Lucas.acioli is known as the 'Father of Accounting'. Read on for Fixed Annuities Explained and the Annuities Pros and Cons . Committed costs are a long term fixed costs that the business has an obligation to pay. Natural disasters and economic downturn, that are inevitable, can cause you to spend some money on the damage done. Bills receivable is a record of all the bills that are receivable by a firm. They are the equivalent of a 'chartered accountant' in the UK and other Commonwealth countries. An account is the physical record of the transactions incurred related to an asset, liability, revenue, expense, etc. Legal fees and registration fees are included in the start-up costs. Customs is the authority who is in charge of collecting duty on the merchandise that comes into the country. Insurance claim is the written notification which the insured gives to the insurer to ask for the amount due under the policy. MPV is the acronym for Net Present Value O & M is the acronym for Operations and Management. Because different people and entities use these financial accounts for their respective purposes, the Financial Accounting Standards Board fas has set up a list of rules known as accounting standards and generally accepted accounting principles gap, which all the financial account statements need to take into consideration.

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Product Or Goods Is The Main Commodity, Which Is Sold By The Business To Generate Its Revenues.

The value is deducted from your income and you will receive your taxable income. Hence, you got to manage your overhead costs and be proactive in listing all your business expenses. GP Ratio is the acronym for Gross Profit Ratio. It is taken as a blue print of your goal for applying in the job. Day's inventory shows the average amount of time that the items are in the inventory. Management consultants review and, if need be, restructure a client company's remuneration system, structure, and staffing strategy in accordance to a given set of corporate objectives. Financial budget can be broken up into two types. Effective tax rate is the net rate of all the taxes that a person/business pays on income. Governance is the act of exercising authority or simply governing, which is performed by the Board of Directors. You may also hire a professional chartered accountant for managing your finances. Opening stock is the opening balance of raw or processed inventory.

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