A profit and loss statement summarizes a business’s revenue and expenses. Learn how to use a profit and loss statement to ...

Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software.

Eastman Kodak faces secular decline in print as digital media erodes demand for its core printing plate business. Read why ...

Discover the differences, advantages, and drawbacks of single-step vs. multiple-step income statements for better financial ...

Discover the key assumptions of accounting postulates and their role in shaping accounting standards, including revenue ...

Yakubu highlighted the N800, 000 annual tax-free threshold under the new personal income tax structure as the most critical ...

For most taxpayers in India, the words “Income Tax Notice” instantly create anxiety, confusion, and fear of harassment. A simple email or SMS from the Income Tax Department is often misunderstood as ...

The department has advised taxpayers to review their ITRs, verify the correctness of their exemption claims, and revise their returns, if required by Dec 31. NEW DELHI: The Central Board of Direct ...

In my appellate practice, one pattern keeps repeating itself—assessments where the entire addition rests only on bank statements. No corroboration. No enquiry. No finding on real income. Just a list ...