Read deep insights and articles on financial statements
A legal monopoly refers to a situation where a company or entity has been granted exclusive rights by the government to produce and sell a particular product or service within a specific market. In other words, a legal monopoly is…
Imagine you were working for a client in a country other than yours. For instance, lets say your client is in the U.S, and you are an Indian citizen. So, you are due to recieve $1000, but suddenly inflation in…
What is Legal Counsel? Legal Counsel is an individual or an organization that offers advisory services that deals in various legal matters such as negotiations. The title, “legal counsel” is also interchangeably with the title “lawyer”. A legal counsel refers…
Author: Sarthak Bhalerao Table of Contents What is a Financial System? Financial System is a network of many financial institutions – such as insurance companies, stock exchanges, and investment banks. They work together to exchange and transfer capital from one…
What is Public Finance? Public finance is the management of a country’s revenue, expenditures, and debt load through various government and quasi-government institutions. In simple terms, it is the study of the role of the government in the economy. It…
An economic system is a set of institutions and mechanisms that a society uses to allocate its resources and goods, and to produce, distribute, and consume goods and services. What is an Economic System? An Economic system is a means…
While checking or analysing financial statements, we always do find the word prepaid expenses journal entry, followed by either rent, expense or insurance. Also, We will simplify this in this simple article with examples to calculate prepaid expenses journal entry.…
What is Ex Gratia Payment? Ex Gratia payment is a type of payment made by an organization to an individual/employee for damages or claims without recognizing any legal obligation. Ex Gratia is derived from Latina where “Ex Gratia” means “by…
Think about a situation where you wanted to calculate how much rent will I have to pay if, let’s say, you were about to leave 3 months before the end of the year. The initiative calculation that follows is nothing…
The bargaining power of suppliers means, the pressure that suppliers can put on buyers by changing their prices, reducing the supply or dropping the quality As you might have noticed, I have explained this using the current inflation problem in…
Cash and cash equivalents, is a line item in the balance sheet of a company signifying either cash in bank or very short term investments. What are Cash Equivalents? Cash & cash Equivalents are investment securities that are made for…
Understanding this basic components of the accounting equation formula can make your life simpler with finance and accounting in general. Whether you are a CA candidate or a financial analyst? Maybe you are a non-finance student facing this horrific concept.…