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Welcome to our blog! Here, you can find the useful articles related to accounting, audit, finance and tax.

What is Performance Prism? And How is it Using

Overview The performance prism is a multi-dimensional performance measurement framework. It can be applied for not-for-profit and for-profit organizations alike. The performance prism model considers all stakeholders, their needs, and the expectations from each one of...

What Is the Balanced Scorecard? And How is it Using

Overview Most performance measurement tools either consider financial or non-financial metrics. The balanced scorecard takes into account both aspects of performance measurement. The balanced scorecard also considers both internal and external perspectives of an...

What is Lean Management Information System? And How Does It Work

Overview The principles of lean management systems urge the efficient use of resources, minimizing waste, and continuous improvements. As the principles suggest, lean management is not a one-time process. It is an iterative process that seeks perfection and continues...

Premium Pricing: What is it and How Does It Work?

Definition: Premium pricing is when the business charges higher prices of the product than an immediate competitor. The setting of the higher price creates psychological influence in the market that the quality of the product is higher that’s why the business is...

What is Operating Profit? (Definition, Using, Formula, And More)

Definition: Operating Profit is the type of profits recorded in the entity's financial statements for the period after the deduction of operating expenses from Gross Profit. This profit is before charging interest expenses and tax expenses of the period. Operating...

The Current Ratio: Formula, Example, Calculation, And More

Overview The current ratio is the measure of the short-term liquidity of a company. It shows the ability of a company to meet its short-term liability through its current assets. It is important to understand the current ratio, how it works, and what information it...