IFRS Definition, Key Principles, Example
IFRS—International Financial Reporting Standards. Sounds like a mouthful, right? Don’t worry, it’s not as scary...
July 2025
How Do I Calculate Profit? Formulas, Examples
In a nutshell, Profit is the amount of cash you take home. But there are...
Revenue vs. Income vs. Profit: What’s the Difference
Are you ready to dive into the world of business terms that sound like they...
What Is Revenue in Accounting? Guide
Let’s dive into a topic that’s at the heart of every business, big or small:...
What is the Revenue Equation? Formula With Examples
Are you a college student who wants to do a part-time job, or planning to...
What Is Deferred Revenue In Accounting? Definition & Examples
Imagine you’re in a high school, and your economics teacher is about to explain something...
Revenue vs. Income: Examples, Use, Drawbacks & More
You’re running your own gig—a bakery, a tech startup, maybe a dog-walking hustle. The money’s...
What Is Revenue Recognition In Accounting? Its 5 Steps & More
Imagine you just landed a big sale—high-fives all around, and you’re ready to count that...
GAAP vs. IFRS: How They Differ? Explained
When it comes to financial reporting, two big players dominate the scene: GAAP and IFRS....
10 Principles of GAAP – Why It Matters?
The GAAP it’s known as the Generally Accepted Accounting Principles, is the core factor in...