Days of inventory on hand (doh) is a metric used to measure the number of days that a company takes to sell its inventory. In…
Disclaimer of Opinion – Definition, Meaning and Types
What is a Disclaimer of Opinion? A disclaimer of opinion is an auditor’s statement that expresses neither an affirmative nor a negative opinion on an…
Capital Asset – Definition, Importance and Example
What is Capital Asset? A capital asset is a type of asset that is used in business operations to generate value or revenue over a…
Cash Flow – Definition, Types and Structure
Cash flow is the inflow and outflow of the cash or cash equivalents all through your business in a month. When cash moves in and…
Call Report – Definition, Purpose and Schedules
A call report is a regulatory as well as quarterly report named Consolidated Report of Condition and Income that every financial institution and bank in…
Income Statement | Formats, Examples and Structure
Every business and enterprise owner uses the income statement. It is considered as one of the essential financial statements. Apart from the income statement, the…
Cash Flow Statement | Definition and Explanation
Definition of Cash Flow Statement The statement of cash flow or cash flow statement is a financial statement that reflects the flow of cash in…
Balance Sheet – Definition and Examples
Definition of balance sheet A balance sheet can be defined as a financial statement of a company or an organization that contains liabilities, assets, and…
Net Income Formula and Calculation
Net income is an important term that you need to be intimately acquainted with if you are looking for achieving desired success in life. It…
Primary and Secondary Objectives of Financial Statement
The Financial Statement is one of the important aspects of management and assumes huge importance in the life of a business. The financial statement refers…
Difference Between Balance sheet and Income sheet
In businesses, various types of financial statements (such as balance sheet, cash flow statement, income statement, and statement of retained earnings) are used to learn…
4 Financial Statements Used In Accounting
Business financial reporting as periodically recommended is made possible by the four most important financial statements required by GAAP. These include; the Balance Sheet (a…
