What Is Profit In Accounting Terms

In accounting terms, profit is the financial gain achieved when your business’s revenue exceeds its expenses. It’s a critical measure that reflects how well you’re managing costs and generating income from your operations. Calculating different types of profit, like gross and net, offers insights into various aspects of your financial health. By tracking profit margins, you can assess […]

What Is A Receipt In Accounting?

Image by/from National Museum of American History A receipt (also known as a packing list, packing slip, packaging slip, (delivery) docket, shipping list, delivery list, bill of parcel, manifest or customer receipt) is a document acknowledging that a person has received money or property in payment following a sale or other transfer of goods or […]

Trading statement

Image by/from RaphaelQS The trading statement is an expanded version of sales portion of the Income statement. The trading statement’s main objective is to determine sales, cost of sales and gross profit. The trading statement forms part of effective bookkeeping within the accounting discipline. Sales – Cost of Sales = Gross Profit The main parts […]

The Origins Of Sage 50cloud

Image by/from Peachtree Software Incorporated Sage 50cloud is a set of accountancy and payroll products developed by Sage Group aimed at small and medium enterprises. Sage offer different products under the Sage 50 name in different regions. The product name originally derives from the UK and Ireland version of the product where the number 50 […]

What Do We Mean By Share Capital?

##IMAGE_HERE##A corporation’s share capital or capital stock (in US English) is the portion of a corporation’s equity that has been obtained by the issue of shares in the corporation to a shareholder, usually for cash. “Share capital” may also denote the number and types of shares that compose a corporation’s share structure. In a strict […]