A debtor is a member of financial accounting that continues the flow of transaction of account payable. He/She runs the turnover of the...

Under accounting terms, Creditors are a source of getting a loan in many ways such as in the form of money, credit card, goods or servi...

An auditor is a person who is appointed for another firm especially for analyzing the financial statements of the firm according to the...

Profitability is a term that needs to be found through the operating profit margin ratio to know how much operating profits businesses ...

A small amount of profit is taken out from a company's earnings for allotting it to shareholders, that distributive part is known as di...

The Expanded accounting equation plays a similar role in varieties of business like a partnership, sole-proprietorship, a public or pri...

With an easy and single format, business owners can make their income statement to record expenses or costs and revenue in a single col...

A receipt that defines the total business small expenses incurred in a whole financial year, is known as a petty cash voucher. A Petty ...

An account receivable turnover ratio defines the ratio in the percentage of how much cash has been received on selling a company's good...

The word outstanding indicates due and salary indicates expense, then it becomes a liability for the firm after both words are combined...

AICPA and PCAOB, both have a major involvement in setting the accounting and auditing standards of the United States to improve the aud...

Standard cost is an assumed cost that is decided by the company before starting the production process so that they can get an idea of ...