What is Promissory Note? Kinds of Promissory Note.
Definition Of Promissory Note A Promissory Note, sometimes which is called as Pro-note, is a central document in dealing with …
Accounting Treatment of Revaluation of Fixed Assets
What is Fixed Assets Revaluation? Fixed Assets revaluation is the process of increasing or decreasing the carrying value of fixed …
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What is Product Cost and Period Cost? Difference between Product Cost and Period Cost.
Topic Overview Product Costs are directly attributable to the product, such as Direct Raw Materials, Direct Labour and Direct Overheads …
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What is Sunk Costs? Difference between Sunk Costs and Opportunity Costs.
Definition of Sunk Cost Sunk Cost is a past cost which is already incurred and can not be recovered. In …
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What is Derivative? What are the types of Derivatives?
Derivatives Literally derivative is something which is derived. Now you may ask what is derived? The entire value is derived …
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What is Payment Against Documents (PAD)
Topic Overview PAD stands for Payment Against Documents. PAD Creates to pay the liability of Letter of Credit (LC). After …
What is Adjusting Entries? Types of Adjusting Entries.
Definition Adjusting Entries also referred to adjusting journal entries which are made at the end of the accounting period to …
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Breakeven Point: Advantages, Disadvantages
Concept of Breakeven Point Break Even Point is the minimum level of production and sale at which the unit will …
What is Revocable Letter Of Credit & Irrevocable Letter of Credit?
What is Revocable Letter of Credit? Revocable Letter of Credit is a letter of credit that can be revoked, amended, …
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What is Bin Cards for Inventory Counting? (with Advantages and Disadvantages)
What is Bin Card? Bin Card is a document that records the status of a goods held in the stock. …
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