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Accounting and Inventory

The Difference Between Inventory And Stock: A Comprehensive Guide

Inventory and stock are two terms that are often used interchangeably in the business world, but they are actually quite different. Inventory is a...

Learn About the Noncurrent Liabilities and their Effect on Businesses

Noncurrent liability is a type of financial obligation that is not due for payment within the next 12 months. Noncurrent liabilities include long-term debt,...

All About Uniform Costing: Features, Advantages and Scope

Uniform costing is a system of cost accounting that is usually used by members of a trade association or an industry. It is not...

Your Brief on the Must-Have Elements in an Effective Audit Programme

An audit programme is a plan or set of procedures for evaluating and verifying that an organisation is in compliance with relevant laws, regulations,...

Depreciation Methods: Concept, Formula, Factors & Types

Depreciation is a financial accounting term that refers to the allocation of the cost of a tangible asset over its useful life. It is...

Journal vs Ledger: Explore the Key Differences

One needs to understand the meaning of journal and ledger, and then move forward with the main differences. Generally, accounting practice has been a...

Everything You Should Know About Depreciation Journal Entry

A depreciation account is an account that is used to record the allocation of the cost of fixed or non-current financial assets over their...

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