It indicates the amount available from sales to cover the fixed expenses and profit. A person starting a new business often asks, “At what level of sales will my company make a profit? ” Established companies that have suffered through some rough years might have a similar question. Get in Touch With a Financial Advisor [...]

It has already been mentioned that it is essential to update and correct the accounting records to find the correct and true profit or loss of the business. Similarly, under the realization concept, all expenses incurred during the current year are recognized as expenses of the current year, irrespective of whether cash has been paid [...]

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