Earned Surplus
Another term for retained earnings the portion of net profits that is not distributed as dividends but kept within the company to reinvest or pay down debt. It accumulates over time and reflects how much profit has been reinvested into business growth.
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Encashment
Encashment involves converting negotiable instruments like cheques, bills, or bonds into cash. In accounting, it represents the realisation of funds…
Estimated Useful Life
Estimated useful life refers to the anticipated period an asset will remain productive and contribute to revenue generation before becoming…
Errors and Omissions
Errors and omissions refer to unintentional mistakes or oversights in accounting records, such as misclassifications, arithmetic errors, or missing transactions.…
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