When valuing a company's inventory, the lower of cost or market (LCM) method states that it is recorded on the balance sheet at either the historical cost or the market value.

Materials or substances used in the primary production or manufacturing of goods are referred to as raw materials.

Seasonality is a time series feature in which the data undergoes regular and predictable changes that repeat each calendar year.

There are nine different types of financial institutions. Understand the various types of financial institutions, their functions, and how they contribute to prosperity.

Although no money has yet changed hands, accruals are earnings or expenses incurred that have an impact on a company's net income.

A user can conduct financial transactions over the Internet by using online banking. Online banking can also be referred to as Internet banking or web banking.

An expense that has not yet been billed or paid is recorded as accrued expense.

Analyzing and presenting financial data to managers so they can use it to make business decisions is known as managerial accounting.