Accounting Terms for Financial Business Literacy

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What Is An Intangible Asset?

Assets may vary with convertibility, physical manifestation, and duration, but all of them are equally essential to an enterprise’s success. They play a vital role in the everyday operation and existence of both a start-up and an industry giant in the world of business. Whatever asset your business harbours, hold on to that and try …

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What Is A Tangible Asset?

The Wealth Lab is back again! Assets are a vital part of any enterprise, may it be a start-up or a multimillion company. It holds a significant economic value that facilitates the continuous operations of your business. It increases a company’s value and helps in generating its income and revenue. Anybody can own an asset …

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What Is A Fixed Asset?

The Wealth Lab is back again! An asset is any valuable resource owned by an individual, a company, or an enterprise that can generate money in the future. In layman’s terms, it is anything that a person owns. The term “asset” is commonly used in several fields, such as accounting, business, and finance. But the …

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How Are Share Dividends Paid?

Aside from the net and gross profit, investors of large companies look for another calculated metric before putting their money into a company—the dividend yield. The dividend yield lets investors know how much they will receive per year concerning their original investment. A higher yield shows how financially competitive a company is relative to its …

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How to Calculate a Percentage Change?

When it comes to mathematics, some people are afraid of it. It might be for good reason since numbers struck fear into everyone’s hearts when we were young. You might be thinking that you do not need it outside of the four walls of the classroom. However, there are many ways that you can apply …

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What Happens If I Miss MY PAYE Payment?

Where ever you will go, no matter what your status is, you cannot avoid the responsibility with tax. It can be your most significant contribution to the community and your duty as compliance with the government, or so they say. This article will also discuss paying an income tax through PAYE (Pay As You Earn) …

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What is Annual Accounting VAT?

The Annual Accounting VAT scheme is one method of paying VAT designed to reduce the administrative burden on small businesses. VAT-registered businesses usually submit their VAT Returns to the HM Revenue and Customs (HMRC) four times a year (quarterly). Still, with this scheme, your business is required to submit only one VAT return per annum. …

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5 Steps to Balance Selling and Serving Your Customers

Suppose you are growing and managing your own business, especially in the early stage where the business’s team means you. In that case, it can be challenging to balance your focus between hitting your sales targets and serving your customers or clients. Here are 5 Steps to Balance Selling and Serving Your Customers.     …

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What Is Cash Flow?

Most middle-class families often live paycheck to paycheck not because of their low income but due to the irresponsible management of their resources. The same goes for most businesses. Small to medium-sized firms may find themselves on the brink of bankruptcy not because of their low profit or costly expenses but rather in not understanding …

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