The Annual Percentage Yield (APY) is a way to calculate the return on investment taking into account the effect of…
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Future Value of Annuity Due
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To calculate the future value of an annuity due, we need to adjust the formula for the future value of…
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Future Value of an Annuity
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2 Min Read
The formula to calculate the future value of an annuity is given below but it can get complex. Our calculator…
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Intangible Assets
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Intangible assets are non-physical assets that provide economic benefits to a business. Unlike tangible assets such as machinery or buildings,…
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Onerous Contract
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An onerous contract is a type of contract in which the costs of the contract exceed the economic benefits that…
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Cost Convention
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2 Min Read
The cost convention, also known as the historical cost principle, is an accounting principle that requires assets to be recorded…
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Realization Convention
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2 Min Read
The realization convention is an accounting principle that dictates when revenue should be recognized in the financial statements. According to…
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Accrual Convention
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2 Min Read
The accrual convention, also known as the accrual basis of accounting, is a fundamental principle that requires transactions and events…
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Substance Over Form
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“Substance over form” is an accounting principle that emphasizes the economic reality of transactions over their legal form. According to…
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Conservatism Convention
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2 Min Read
The conservatism convention is also known as the prudence principle. It dictates that when faced with uncertainty, the entity should…
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