Overstatement of Sales or Window Dressing
Overstating Sales or Window Dressing Overstating sales or window dressing means making the sales numbers look better than they really are. T...
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Accounting Equation
The full Accounting equation is: Assets = Liabilities + Equity Assets = What the business owns (like cash, inventory, equipment) Liabilities...
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Closing inventory
Closing inventory is the value of the goods or stock you still have at the end of the accounting period (e.g., year-end). It’s what’s left unsold.&nbs...
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Accounting Profit Vs Tax Profit
Accounting Profit: Accounting profit is the profit a business reports in its financial statements. It is calculated using standard accounting principl...
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Depreciation vs Capital Allowance
Depreciation:Depreciation is an accounting concept. It represents the gradual reduction in the value of an asset over its useful life. Businesses reco...
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