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October 29, 2021

Charles Lutwidge
After-Tax Income

After-Tax Income

Profit before tax Before we discuss after-tax income, let’s review what profit before tax means. Profit before tax is actually nothing more than the total company’s revenue after all expenses have been deducted, but before income tax has been subtracted. By..

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October 28, 2021

Charles Lutwidge
What is net income

What is net income

Net income and doing business are strongly linked. New companies are being opened precisely to generate income. Entrepreneurs are actively developing ways to increase the profitability of the business and use material and labor resources more effectively. Therefore, it is important..

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October 27, 2021

Charles Lutwidge
What is gross income and How it works

What is gross income and How it works

The goal of any company is to generate profit. All income minus all expenses – this is how most business owners calculate their success. However, this approach will help determine only one of the types of income – net income, and..

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October 26, 2021

Charles Lutwidge
Basic Overview of Progressive Tax

Basic Overview of Progressive Tax

Taxes are obligatory payments of individuals and legal entities to the government. There are two types of taxation systems. With a progressive tax structure, the tax owed to the government is calculated using a rate that increases as soon as the..

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October 24, 2021

Charles Lutwidge
Days Payable Outstanding (DPO)

Days Payable Outstanding (DPO)

Accounts Payable Accounts payable is a bookkeeping account you will see in most businesses. It means that the company is buying something from suppliers or receiving services from other entities, but it does not pay for anything until sometime later agreed..

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October 23, 2021

Charles Lutwidge
What Is the Equity Method of Accounting?

What Is the Equity Method of Accounting?

Overview One of the main advantages of accounting is that in many cases it has clear rules, guidelines, and requirements as to what a business has to do and how it should reflect its various activities on paper. If you are..

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October 20, 2021

Charles Lutwidge
Meaning and Example of Insurance Expense

Meaning and Example of Insurance Expense

Insurance No one is safeguarded from accidents and other unfortunate events that inevitably occur in our lives. Insurance is a way to protect you and your property from various risks. It is primarily the protection of your financial interests in the..

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October 19, 2021

Charles Lutwidge
Variance Analysis

Variance Analysis

Budgeted costs Among other questions, an investor would ask about the project costs. The management would need to not only get numbers that are close to what the business will spend but also adhere to these projected numbers to the best..

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October 18, 2021

Charles Lutwidge
Marginal Cost Formula

Marginal Cost Formula

Overview When we talk about the production of any product, we always say that the interaction of different elements and processes allows the raw material to become the final product, which is destined to get into the hands of the final..

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