The fundamental purpose of a business is to procure goods or services (benefits) at a discounted price as much as possible and sell them with as much margin as possible to generate profit.
Read MoreRecording the company's benefits transfer details in accounting and calculating the company's discounts and margins are the primary tasks of accountants.
Read MoreA Transaction Between Two Persons In Which One Receives The Benefit And The Other Agrees To Receive The Benefit After A Specified Number Of Days, Or in which one has already received the benefit and the other will now receive the benefit.
Read MoreIf The Business And Others (Customer Or Supplier) Receive The Benefit On The Same Day It Is A bilateral benefit transaction
Read MoreJournal Function Is To Analyze The Business Activities Based On Accounting Principles, Identify The Transaction Type Of Its Activities And Record Them In The Appropriate Account Accordingly.
Read MoreThe benefit obtained through power or money without directly doing anything to get the benefit is called Levies benefits.
Government levies : Tax, Interests, Penalty, etc...
Investment leviess : Interests, Dividend, Rent
Read MoreThe goods or services purchased for the purpose of sale are called trade inputs benefits and the goods and services sold through these inputs are called trade outputs benefits.
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