Loan Against Property In a loan against property (LAP), individuals offer their property as security to obtain funds from a lender, making it a secured borrowing option. This loan allows individuals to utilize the equity in their property to obtain a loan for various purposes, such as business expansion, education expenses, medical emergencies, debt consolidation,… Read More »
What is considered liquid net worth What is considered liquid net worth: Liquid net worth refers to the portion of an individual’s or entity’s net worth that consists of assets that can be readily converted into cash without significant loss in value or time delay. It represents the portion of net worth that… Read More »
Calculate Website Link: The interest on GST liability is calculated at a specific rate on the amount of tax liability that is overdue or unpaid for a particular period. The interest rate is currently set at 18% per annum and is calculated on a monthly basis. To calculate the interest on your GST liability, you… Read More »
Accounting treatment Website Link: Accounting treatment: When an asset has been fully depreciated but is still in use, it should be recorded on the balance sheet at its net book value, which is the original cost of the asset minus the accumulated depreciation. The accumulated depreciation account will continue to increase as depreciation is charged… Read More »
Net working capital Website link Net working capital: The measure that reflects the difference between current assets and current liabilities is called working capital. Working capital is calculated by subtracting the total current liabilities of a company from its total current assets. It is an important metric for businesses to monitor, as it indicates… Read More »
Intangible Assets Yes, assets can be intangible. In accounting and finance, assets can categorize into two main types: tangible assets and intangible assets. Tangible assets refer to physical assets that possess a physical form and can be perceived through touch or sight. Examples of tangible assets include buildings, machinery, vehicles, inventory, and land. On the… Read More »
Accounts Receivable Current Asset Website link Accounts Receivable Current Asset: Yes, accounts receivable are generally classified as a current asset on a company’s balance sheet. This is because accounts receivable represent amounts owed to the company by its customers for goods or services that have already been delivered or provided, but for which payment has… Read More »