Tag: accounting

Drawings are withdrawals made by the owner or partners from the business profits for personal use.On this article you can learn meaning of Drawing, how to record owner draw in accounting,

what are the main similarity and difference between one person private limited company (OPC),private limited company(PLC) and sole proprietorships and which business types of formation more advantageous

there are two types of accounting methods this are Cash basis and accrual basis of accounting.

According to Ethiopian Tax Law capital gains tax is imposed on the income from the disposal of certain investment areas.       The income tax proclamation No. 979/2016 imposes a certain amount of tax on income from a disposal of certain investment areas. Article 59 (1) of the Proclamation, states that a person who derives a gain on the disposal of immovable property, a share, or bond (referred to as a “taxable asset’) is liable to pay an income tax.

A note receivable and an accounts receivable are both forms of assets that represent money owed to a company. However, there are some key differences between the two. What are the difference between account receivable and note receivable ? what are the similarity between note receivable and account receivable ?