Royalty
A royalty is a payment made by one party (licensee) to another (licensor) for the use of intellectual property, such as trademarks, patents, or copyrights. In accounting, royalties are treated as expenses for the licensee and revenue for the licensor. They may be fixed or percentage-based.
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Retained Earnings
Retained earnings represent the cumulative net profit a company keeps after distributing dividends to shareholfers. Reported under equity on the…
Running costs
Running costs are recurring operational expenses necessary for keeping the business functioning day-to-day. This includes fuel, maintenance, salaries, insurance, and…
Revenue expenditure
Revenue expenditure refers to costs incurred in the day-to-day running of a business, like rent, utilities, and maintenance. These are…
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