Earnings Statement
Earning statement is also known as the income statement or profit and loss statement. It summarizes a company’s revenues, expenses, and profits over a specific period. It shows how much was earned and what it cost to earn it, helping assess financial performance.
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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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