Business

A branch is a segment of a business company located outside the head office. Department is a different functional area within the business organization. The…

Bad Debt The term bad debts usually refer to accounts receivable that will not be collected. Debts, which are due to traders (debtors) because of…

Journal Entry for Inter-departmental Transfers Departmental Accounts are accounts relating to the several departments or sections of a busi­ness drawn up with a view to…

Back Freight Throughout history, seas have been fundamental to people across the earth as a means of transportation. The cost of shipping goods back to…

Concept of Containers Account A container is anything in which goods are packed for sale. The word containers may be substituted for drums, boxes, packages,…

B2C (business to consumer) Under this system, consumers buy goods directly from manufacturers or any other businessmen. B2C sales can refer to any sales process…

In order to determine the turnover on the sale of the package, a Package Stock Account is arranged which records the opening balance in the…

Methods for Accounting Treatment of Containers Accounting for containers is very important if you pack your product in containers before selling it to your consumers.…

B2B (Business to business) In b2b type, business takes place among many business organizations such as wholesalers and retailers. It is a form of transaction…

Concept of Royalty The term royalty is concerned with the assets of tangible or intangible in nature. It means a payment to the holder of…

Average Loss It signifies the loss or damage, which arises inconsequent upon extraordinary sacrifices made or expenses incurred for the preservation of the ship and…

Average Due Date An Average Due Date is an equated date on which a single payment (in place of several payments) may be made of…