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Managerial Accounting Meaning, Pillars, and Types

Leave a Comment / Economic / August 21, 2023

Managerial Accounting Meaning, Pillars, and Types What Is Managerial Accounting? Managerial accounting is the practice of identifying, measuring, analyzing, interpreting, and communicating financial information to managers for the pursuit of an organization’s goals. Managerial accounting differs from financial accounting because the intended purpose of managerial accounting is to assist users internal to the company in […]

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What Is a Budget? Plus 10 Budgeting Myths Holding You Back

Leave a Comment / Economic / August 21, 2023

What Is a Budget? Plus 10 Budgeting Myths Holding You Back What Is a Budget? The term budget refers to an estimation of revenue and expenses over a specified future period of time and is usually compiled and re-evaluated on a periodic basis. Budgets can be made for any entity that wants to spend money, including governments and businesses, along with

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Balance Sheet: Explanation, Components, and Examples

Leave a Comment / Economic / August 21, 2023

Balance Sheet: Explanation, Components, and Examples What Is a Balance Sheet? The term balance sheet refers to a financial statement that reports a company’s assets, liabilities, and shareholder equity at a specific point in time. Balance sheets provide the basis for computing rates of return for investors and evaluating a company’s capital structure. In short, the

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Financial Statements: List of Types and How to Read Them

Leave a Comment / Economic / August 21, 2023

Financial Statements: List of Types and How to Read Them What Are Financial Statements? Financial statements are written records that convey the business activities and the financial performance of a company. Financial statements are often audited by government agencies, accountants, firms, etc. to ensure accuracy and for tax, financing, or investing purposes. For-profit primary financial

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Income Statement: How to Read and Use It

Leave a Comment / Economic / August 21, 2023

Income Statement: How to Read and Use It What you need to know about this essential financial statement What Is an Income Statement? An income statement is one of the three important financial statements used for reporting a company’s financial performance over a specific accounting period. The other two key statements are the balance sheet and the cash flow statement. The income

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Net Income (NI) Definition: Uses, and How to Calculate It

Leave a Comment / Economic / August 21, 2023

Net Income (NI) Definition: Uses, and How to Calculate It What Is Net Income (NI)? Net income (NI), also called net earnings, is calculated as sales minus cost of goods sold, selling, general and administrative expenses, operating expenses, depreciation, interest, taxes, and other expenses. It is a useful number for investors to assess how much revenue

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Capital: Definition, How It’s Used, Structure, and Types in Business

Leave a Comment / Economic / August 19, 2023

Capital: Definition, How It’s Used, Structure, and Types in Business What Is Capital? Capital is a broad term that can describe anything that confers value or benefit to its owners, such as a factory and its machinery, intellectual property like patents, or the financial assets of a business or an individual. While money itself may be construed

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What Is a Certificate of Deposit (CD) and What Can It Do for You?

Leave a Comment / Economic / August 19, 2023

What Is a Certificate of Deposit (CD) and What Can It Do for You? What Is a Certificate of Deposit (CD)? A certificate of deposit (CD) is a savings product that earns interest on a lump sum for a fixed period of time. CDs differ from savings accounts because the money must remain untouched for the entirety

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Annual Percentage Rate (APR): What It Means and How It Works

Leave a Comment / Economic / August 15, 2023

Annual Percentage Rate (APR): What It Means and How It Works What Is Annual Percentage Rate (APR)? Annual percentage rate (APR) refers to the yearly interest generated by a sum that’s charged to borrowers or paid to investors. APR is expressed as a percentage that represents the actual yearly cost of funds over the term of a

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