ACCOUNTING TERMINOLOGIES PART : 7

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ALL ABOUT ACCOUNTING : 33rd BLOG

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Hi freinds., 🙏

Today's discuss 36th to 42nd accounting terminologies..... 

                                   So let's discuss .....

  36. Overhead :

Overhead are those Expenses that relate to running the business. They do not include Expenses that make the product or deliver the service. For example, Overhead often includes Rent, and Executive Salaries.

37. Payroll : 

Payroll is the account that shows payments to employee salaries, wages, bonuses, and deductions. Often this will appear on the Balance Sheet as a Liability that the company owes if there is accrued vacation pay or any unpaid wages.

38. Present Value (PV) :

Present Value is a term that refers to the value of an Asset today, as opposed to a different point in time. It is based on the theory that cash today is more valuable than cash tomorrow, due to the concept of inflation.

39. Receipts :

A Receipt is a document that proves payment was made. A business produces receipts when it provides its product or service and it receives receipts when it pays for goods and services from other businesses. Received Receipts should be saved and catalogued so that a company can prove that its incurred expenses are accurate.

40. Return on Investment (ROI) :

Originally, this term referred to the profit that a company was making (Return), divided by the Investment required. Today, the term is used more loosely to include returns on various projects and objectives. For example, if a company spent ₹ 10,000 on marketing, which produced ₹20000 in profit, the company could state that it’s ROI on marketing spend is 50%.

41. Trial Balance (TB)

Trial Balance is a listing of all accounts in the General Ledger with their balance amount (either debit or credit). The total debits must equal the total credits, hence the balance.

42. Variable Cost (VC) :

These are costs that change with the volume of sales and are the opposite of Fixed Costs. Variable costs increase with more sales because they are an expense that is incurred in order to deliver the sale. For example, if a company produces a product and sells more of that product, they will require more raw materials in order to meet the increase in demand.






Remaining 3 learning section discuss in 34th blog... 

                                  So wait my 34th blog..... 
 
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