Inventories – what are they? Definition of the term
Inventory is one of the most important elements in any business. This is especially true for manufacturing companies…
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Accounting and taxation
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Approval of financial statements – what is it?
The approval of financial statements is an important process for any business, ensuring that financial information is correct…
Scope of accounting – what is it? Definition of the concept
Accounting is one of the most important and widely used financial management systems. Therefore, it is important to…
Extraordinary profits – what are they and what do they include?
Recently, we have been hearing more and more about extraordinary profits, and it is worthwhile to know what…
Bills of exchange obligations – what are they? Definition of the term
Bills of exchange are a relatively old document used as a form of security in financial transactions. They…
Contingent liabilities – what are they? Definition of the concept
Contingent liabilities is a concept that can be found in many legal fields. It refers to various types…
Current liabilities – what are they? Definition of the term
Short-term liabilities are an important part of any company’s financial planning. In this article, we will discuss what…
Liabilities – what are they? Definition of the term
Commitments are an integral part of our lives, both professionally and privately. Whether we are dealing with contracts,…
Statement of changes in equity – what is it?
Equity is one of the most important elements in the financial structure of a company. It is the…
Statement of trade and balances – what is it? Definition of the term
The control of turnover and balances is one of the most important tools for assessing a company’s financial…