Trade Discount Explained in Simple Words
If products are listed as sold this way, then it means the producer of these goods allowed them to be purchased for a price smaller than originally intended for them. They usually do this to bolster the sales – all the more so, considering that this ...
Units of Production Method of Calculating Depreciation
The Units method is best utilized with assets whose depreciation rate depends on how much they produce in terms of units. Production equipment is the most common type of asset being depreciated, although it’s not just restricted to that....
What are Income Statement Accounts?
Accounts can differ in nature, but they usually hold a number of deals of the same type. These are long lists of deals, and they’ll eventually be generalized to some degree. At the beginning of each month, all bookkeeping accounts go to a single Ledg...