Exchange Gain/Loss
The profit or loss from converting one currency to another due to exchange rate fluctuations. These arise in international transactions and impact income statements. Gains increase profits, while losses reduce them both must be reported for accurate financial results.
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Expenditure
The total amount spent by a business to acquire assets, goods, or services. It includes both capital expenditures (long-term investments)…
Employee Liabilities
Amounts owed by a company to its employees or on their behalf. This includes unpaid wages, accrued vacation, payroll taxes,…
Earnings Statement
Earning statement is also known as the income statement or profit and loss statement. It summarizes a company’s revenues, expenses,…
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