What is Accounts Receivable?
Accounts receivable may be defined as the amount of money receivable from a customer for the goods sold to them on credit. Accounts receivables are traded as a current asset…
What is Fixed Cost?
A fixed cost refers to the business expenses that remain fixed and do not change even though a company experiences changes in revenue or other levels of operation. Fixed costs…
What is Inventory?
Inventory refers to all of the items, goods, merchandise, and materials held by a company to sell in the market for a profit simply. Inventory is one of an organization's…
What are Bonds?
A bond is a loan that a corporation takes out. The company gets money from investors who purchase its bonds instead of going to a bank. The company pays an…
What is Accrual method
When transactions are reported in the books of accounts when they occur even if the payment for that specific good or service has not made or obtained, it is known…
What is Fixed Assets?
Fixed assets refer to tangible assets in the long term for usage in a company's operations. As they have a useful life of more than one year, fixed assets provide…
What is Capital Gains Tax (CGT)?
Capital Gains Tax (CGT) usually occurs when the tax imposes on the gains you earn from selling, transferring or disposing of capital assets or properties that have risen in value.…
What is Real Time Capital Gains Tax Service?
The Real Time Capital Gains Tax Service is one of two options for paying your Capital Gains Tax (CGT) bill. HMRC has established a “Real Time” Capital Gains tax Service…
What are Raw Materials?
A company's raw materials are the resources it uses to manufacture its finished goods and products. Raw materials are materials or substances that are used in the initial production or…
What is Welsh Rate of Income Tax?
The Welsh Rate of Income Tax came into existence on April 6, 2019. On behalf of the Welsh Government, HM Revenue and Customs (HMRC) collects the Welsh income tax rate.…