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

What Does Company Infrastructure Mean? What Does It Include?

A company is an organization that produces products or services, and it may include public or private entities. Some companies are called conglomerates (one unit is for making money, another for charity). Most companies will perform activities like production,...

Accounting Profit Vs. Economic Profit: What Are Key Differences?

Every for-profit business entity has the primary purpose of earning Profit through different business operations. The company’s Profit or loss, net income, is reported in the financial statements at the end of a financial year. Besides the net income, some different...

Net Worth Of A Corporation: What is It and How To Calculate?

Besides the financial performance, profitability, net assets, capital, etc., the net worth calculation is also an important consideration for any business entity. The purpose of some financial metrics is to report different aspects of a company’s performance. For...

What Is Included In Cash Flow From Operating Activities?

The financial statements of any business entity tell a lot about financial health and profitability. If we talk about the income statement alone, the firm’s profitability, revenues, and expenses are covered in it. The last item on the income statement is profit that...

What is the LIFO Conformity Rule? Definition, Explanation, and More

Companies need revenues to stay in business. Usually, these revenues come from the sales of products and services. While services are perishable, companies can store products and sell them to various customers. These products form a company's inventory or stocks. For...

A Field Auditor: Responsibilities, Qualification and More

An audit is a process in which an auditor examines a subject matter against specified criteria. During this process, the auditors use various audit procedures to obtain assurance regarding the subject matter. There are several types of audits that may exist. Usually,...