Inventory
Inventory is a goods a business holds for sale or use in production. It includes raw materials, work-in-progress, and finished goods. Inventory is a current asset on the balance sheet and directly affects cost of goods sold and cash flow. Proper tracking helps avoid stockouts or overstocking.
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Installment
Installment is a partial payment made on a schedule toward settling a larger debt or purchase. Installments break down the…
Interim Financial Statement
Financial reports prepared for a period shorter than a full fiscal year typically quarterly or monthly. They provide stakeholders with…
Internal Control
Policies and procedures designed to safeguard assets, ensure accurate financial reporting, and promote compliance with laws. Internal controls reduce the…
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