Markup
Markup is the amount added to the cost of a product or service to determine its selling price. It’s expressed as a percentage of the cost and is essential for pricing strategy, ensuring the business earns a profit after covering all direct and indirect expenses associated with the product.
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Merger Accounting
Merger accounting refers to how the books are consolidated when two companies combine. Depending on the type of merger, acquisition,…
Money Measurement Concept
This accounting concept states that only transactions measurable in monetary terms are recorded in the books. Non-quantifiable events like employee…
Modified Accrual Accounting
Modified accrual accounting blends elements of cash and accrual methods. Commonly used in government and nonprofit entities, it recognizes revenues…
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