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Purchasing is the overall process of obtaining goods & services while procurement is the sub-process within purchasing that defines the steps. Let’s check the difference between purchasing & procureme

The difference between LIFO and FIFO in inventory valuation is that FIFO values the latest purchased stock while LIFO values the older stock. Let’s check what is inventory valuation & FIFO vs. LIFO

Amortization is the method that is used to decrease the cost of the asset over time while depreciation is the loss in value of the asset over time. Let’s check the difference between them

Liquidity risk arises when an investment cannot be sold or acquired quickly enough to avoid a loss. Let’s understand the details of liquidity risk and what are the sources of it.

A closing inventory formula is used to determine the inventory status at the month-end. Let’s check what is an ending inventory formula with significance & how to calculate it.

A tax invoice is a document that lists all the taxes applied to the products or services that were supplied. Let’s check what is a Tax Invoice & how to create it.

Perpetual inventory is the maintenance of accounts for inventory exactly as the purchase of inventory and sales of inventory happen. Let’s check what is perpetual inventory.

There is always the chance of an unplanned expense in a business & the amount set aside for unforeseen expenses is called provisions in accounting. Let’s check what are provisions in accounting & type

Hedge accounting is an accounting practice that is used in companies that deal with components on their financial statements. Let’s check what is Hedge Accounting & how is it used.

The purchase price of a company is more than the calculated value due to its intangible assets is called goodwill. Let’s check what is goodwill in accounting, its importance & how to calculate it.

Accounting software helps to record financial transactions, generate reports & perform other essential functions in a business. Let’s check how accounting software can save small business.

Management accounting is the process of managing, extracting reports of the organization for decision making. Let’s check 6 reasons why management accounting is important for decision making.