Articles: 1,590 · Readers: 764,000 · Views: 2,278,118 It is difficult to measure the exact value of intellectual property that is expressed in Balance Sheet in the form of Intangible Assets.
Super Business Manager
Copyrights give the original creator of the website the exclusive rights to own and distribute the copy of creative works.
Intellectual Property is human capital, know-how and industry knowledge. It is somewhat expressed on Balance Sheet in the form of Intangible Assets.
Balance Sheet is a statement of the estimated value of the company. The information can be used in a number of ways.
Balance Sheet is a snapshot of the business's financial position. It is an accounting statement that records the assets, liabilities and owners' equity at a particular date.
Profit and Loss Account (P&L Account) is a Final Account that records Sales Revenue, all costs and profits or losses of the business.
Businesses usually have two types of spending such as Revenue Expenditure and Capital Expenditure. Here is how to correctly record these two types of spending.
As a business manager, you can improve Net Profit of your business by decreasing Indirect Costs (Overheads).
As a business manager, you can improve Gross Profit of your business by either increasing Sales Revenue or decreasing the cost of production.
Profit and Loss Account (P&L Account), or an income statement, contains financial data which business stakeholder groups find extremely useful.
Balance Sheet, or Statement of Financial Position, records the values of a business’s assets, liabilities and the Net Wealth (Shareholders’ Equity).
Profit and Loss Account (P&L Account) contains financial data which business stakeholder groups find extremely useful.
Let’s take a look at very basic foundations of the accounting practice. It is important for accountants to follow the same accounting principles.
Final Accounts are records of all financial transactions of the business. At the end of each accounting period accountants draw up the Final Accounts.
Being professional as an accountant is important to prevent illegal practices, maintain a positive brand image and impeccable reputation.
There are two major types of accounting which include financial accounting and managerial accounting.