Basic Accounting Principles

What is Accounting Principals? Accounting principles refer to the set of guidelines and standards that companies follow when preparing their financial statements. These principles provide a common basis for how financial information should be record…

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The Basic Accounting Formula

What is the Basic Accounting Formula? Accounting formulas are the basic tools that accountants use to record, classify, and summarize financial transactions. They provide a framework for understanding the relationships between a company's assets…

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The Basic Accounting Concepts

What are the Basic Accounting Concepts? Accounting concepts are the fundamental ideas and assumptions that underlie financial accounting and reporting. They provide a basis for consistent and accurate financial reporting, and help ensure that financ…

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Base Stock Method

What is the Base Stock Method? The Base Stock Method is a popular inventory management technique used by businesses to control their inventory levels and prevent stockouts. It is a simple, yet effective method that helps businesses to balance the tr…

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Base Pay Rate Overview and Explanation

What is the Base Pay Rate? Base pay rate refers to the minimum amount of money an employee is paid for their work, excluding any additional bonuses, commissions, or overtime pay. This rate is established by an employer and is used as the starting po…

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Base Jackpot definition

What is a Base Jackpot? The base jackpot refers to the minimum amount of money that can be won in a lottery or gambling game. This amount is established beforehand by the lottery or gambling operator and is the starting point for the prize pool. If …

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Base currency Overview and Explanation

What is a base currency? A base currency is a currency used as the primary unit of account in a currency pair. It is the first currency listed in a currency pair and the value of the second currency is quoted in terms of the base currency. The base …

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Barriers to exiting a market

What are the barriers to exiting a market? Barriers to exit refer to the obstacles or hindrances that make it difficult for firms to leave a market or industry. These barriers can take various forms, including economic, legal, and technological fact…

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Barriers to Entry Overview and Explanation

What are the barriers to entry? Barriers to entry refer to the obstacles or hindrances that make it difficult for new companies to enter a market and compete with established firms. These barriers can take various forms, including economic, legal, a…

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Bargain Renewal Option

Leasing contracts are an essential component of the real estate industry, as they provide a framework for tenants and landlords to enter into an agreement for the use of a property. One aspect of leasing contracts that is often overlooked is the bar…

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Bargain purchase option explanation

What is a Bargain Purchase Option? A bargain purchase option is a clause in a leasing contract that gives the tenant the right to buy the leased property for a price that is lower than its fair market value. This option provides the tenant with a si…

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Bargain purchase option

What is a bargain purchase option? A bargain purchase option is a type of options contract that gives the holder the right, but not the obligation, to acquire an asset or business at a pre-determined price that is lower than the fair value of the as…

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Bargain purchase in an acquisition

What is a bargain purchase in an acquisition? A bargain purchase in an acquisition occurs when a company acquires an asset or a business for less than its fair value. In such cases, the company is required to recognize the difference between the fai…

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Mortgage Calculator

What is Mortgage? A mortgage is a loan that is used to purchase a home. The borrower agrees to pay back the loan, plus interest, over a set period of time. In the United States, the most common type of mortgage is a 30-year fixed-rate mortgage.…

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Bankruptcy Overview and Explanation

What is bankruptcy? Bankruptcy is a legal process that allows individuals or businesses to have their debts discharged or restructured in order to help them get back on their feet financially. In the United States, bankruptcy is governed by federal …

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Banker's Acceptance

What is a banker's acceptance? A Banker's Acceptance (BA) is a type of short-term debt instrument that is guaranteed by a commercial bank. It is typically used by businesses, such as manufacturers and wholesalers, to finance their operations…

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Bank Transfer Schedule

What is the bank transfer schedule? A bank transfer schedule is a schedule that outlines the specific times and days that a bank will process and complete electronic transfers of funds. This can include both incoming and outgoing transfers, as well …

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Bank Statement Overview and Explanation

What is a bank statement? A bank statement is a document that summarizes all the transactions in a bank account over a certain period of time, typically a month. It is issued by a bank and contains important information such as the account balance, …

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Bank Service Charge Expense in accounting

Bank service charge expense is a type of expense that is incurred by businesses and individuals when they use the services provided by banks. This can include things like account maintenance fees, ATM fees, and other charges that are associated with…

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Bank Reconciliation Statement

What is a Bank Reconciliation Statement? A bank reconciliation statement is a document that compares the bank statement balance provided by a financial institution with the balance in the company's own records. This process is used to ensure tha…

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