Accounting and Inventory
Purchase Book in Accounting Explained | Format, Advantages
A purchase book is a type of accounting record that is used to track the purchase of inventory by a business. The purchase book...
Accounting and Inventory
How to Calculate Average Inventory Formula | Examples | Realtime Uses
In business, inventory refers to the stock of goods or materials used in production. A company's inventory is one of its most important assets,...
Accounting and Inventory
Importance of Subsidiary Books, Types, Examples, Advantage
The term ‘subsidiary books’ refers to the various ancillary books a business may keep in addition to its main accounting records. These books are...
Accounting and Inventory
Why is the Concept of Valuing Goodwill Relevant for Partnership Firms?
Before we begin with the methods of valuation of goodwill, let us first understand the idea of Goodwill. We can call the goodwill of...
Accounting and Inventory
Guide on Batch Costing, Formula, Features, Pros and Cons
Batch costing is a method used to calculate the cost of producing a batch of products. The key features of batch costing are that...
Accounting and Inventory
Limitations and Drawbacks of Financial Accounting Explained
Financial accounting is the systematic process of documenting, categorising, summarising, analysing, and reporting a company's business transactions. The main goal of financial accounting is...
Accounting and Inventory
Net Operating Profit After Tax (NOPAT) Definition and Formula
NOPAT, the net operating profit after tax calculator, is used to compute a company's profit from operations after deducting tax. That shows the company’s...
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