The term "deferred tax" refers to a tax which shall either be paid in future or has already been settled in advance. In this article, we will see why a company may differ its tax to a subsequent fiscal year or why a company may choose to pay the tax ... Read More

Amortization vs. DepreciationBoth Amortization and Depreciation are concepts that are used to account for the consumption of assets and how they lose their value over their useful life.We understand that tangible assets such as plant machinery, furniture, buildings, and vehicles lose their value over a period, which is called "depreciation". ... Read More

We can apply the concept of depreciation in both accounting as well as tax calculations. In this article, we will see how Accounting Depreciation differs from Tax Depreciation, but before that, let us first understand what is depreciation and how it matters.We can define "depreciation" as a concept that is ... Read More

As the name suggests, an "installment sale" is an approach where the seller allows the buyer to make payments in installments over a period of time. It is a Revenue Recognition method in which the seller defers the revenues until the payment is received.In an Installment Sale, the revenues and ... Read More

Most of the big companies do business on credit. They supply goods and services for which the payments are received at a later stage or over a period of time. Hence, it becomes important for companies to follow a standard process to recognize the revenue from such transactions and record ... Read More

The Accrual Principle is a concept in Accounting where the financial transactions are recorded during the same time period in which they occur. Note that the actual cash flow may occur at a later stage. For example, suppose a company supplies goods worth $50, 000 in the first quarter of ... Read More

Cost-Plus Pricing Vs Value-Based PricingIn general, companies calculate the selling price of a product or service based on the costs incurred in manufacturing that product or delivering that service. This is what we call Cost-Plus Pricing strategy where the price of a product is proportional to the manufacturing cost.We very ... Read More

We can define Marginal Benefit as the maximum amount a buyer can pay for an extra unit of product purchased after the first unit. Consumers normally tend to compare the marginal cost of purchasing an extra unit with the marginal benefit derived from purchasing it. In other words, we can ... Read More

Decorator function pattern is a pattern that is mainly found in Python and JavaScript, but we can also use it in Golang.It is a pattern in which we can add our own functionality over a current function by wrapping it. Since functions in Golang are considered firstclass objects, which in ... Read More

Sometimes there are cases where we want to know which user is executing the current program and in which directory and we can get all these details with the help of the user package that is present inside the os package of Go's standard library.In this article, we will explore ... Read More