earnings before interest, taxes, depreciation and amortization
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How can I understand 'retained profit'?
the amount of profit a company has left over after paying all its direct costs, indirect costs, income taxes and its dividends to shareholders
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How can I understand Cost of goods sold (COGS)?
It refers to the cost that is spent on producing a product. It plays a major role in determining the profit of your business
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What is working capital?
The capital that is used in day-to-day trading. It is calculated by subtracting current liabilities from current assets.
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Do you think it's a good idea to mix a personal account with the professional account of the company?
...
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Are inactive and dormant accounts the same?
An i.a. refers to the account that has been closed and can't be used. A d. a. refers to the account that is currently not operational but can be used in future
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Is there any good way to maintain accounting records? Is it better to have digital or physical records?
Unlike physical records, digital records cannot be destroyed and are easily accessible from anywhere.
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How can I maintain accounting accuracy?
Identify revenue streams, keep an eye on invoices and receipts, prepare tax returns and financial statements
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What is TDS? Where do you show TDS on a balance sheet?
(Tax Deducted at Source) is a concept aimed at collecting tax at every source of income. In a balance sheet, it is shown in the assets section
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What is deferred tax liability?
it signifies that a company may pay more tax in the future due to current transactions.
