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Posted by Terms compared staff | Jun 29, 2019 | Finance |
The fee that a lender charges for an amount of money lent to a borrower is known as interest. Interest is usually charged in percentage terms. Definitions and explanations: Simple Interest: If interest is charged only on the...
Read MorePosted by Terms compared staff | Jun 29, 2019 | Accounting |
Budgeting is basically formulation of realistic plans for dispersing resources of a company. A company prepares different kinds of budgets and then reconciles them with the original outcomes. Sales budgets, purchases budgets and...
Read MorePosted by Terms compared staff | Jun 29, 2019 | Accounting |
Definitions and meanings: Principle based accounting: Principle based accounting suggests a ‘comply or explain’ policy. It means every company following this system must comply by the set principles and if a company...
Read MorePosted by Terms compared staff | Jun 28, 2019 | Accounting |
Definitions and explanations GAAP accounting: GAAP accounting is accounting as per ‘Generally Accepted Accounting Principles’. GAAP accounting involves preparation of financial statements in accordance with the standardized...
Read MorePosted by Terms compared staff | Jun 28, 2019 | Finance |
While computing the personal taxable income of an individual, tax law provides for certain deductions. These are deductions that can be reduced from the individual’s income to arrive at the income subject to tax i.e., taxable...
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