by Online Tutorial & Training Guide | Jan 10, 2026 | Chart of Accounts, Income, Terminologies
Profit realized when selling fixed assets at a price higher than book value. It is recorded as income separate from regular sales. Helps reflect capital gains in operations.
by Online Tutorial & Training Guide | Jan 4, 2026 | Chart of Accounts, Expenses, Terminologies
Spending on meals, events, or hospitality to build client relationships. Subject to regulatory and tax restrictions. Needs proper documentation for deductions.
by Online Tutorial & Training Guide | Dec 31, 2025 | Cost & Managerial Accounting, Terminologies
The study of differences between actual results and budgeted or standard figures. Identifies areas requiring attention or improvement. A vital managerial accounting tool.
by Online Tutorial & Training Guide | Dec 29, 2025 | Chart of Accounts, Expenses, Terminologies
Costs for business permits, registration, or property taxes. Necessary to operate legally. Recurs annually or periodically.
by Online Tutorial & Training Guide | Dec 29, 2025 | Chart of Accounts, Expenses, Terminologies
The systematic allocation of an asset’s cost over its useful life. Reflects wear, tear, and obsolescence. Recorded periodically to match expense with revenue.
