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The bidirectionality is caused by a sinusoidally varying current and voltage that reverse directions, creating a periodic back and forth motion for the current. The electrical outlets at our home and industries are supplied with alternating current. When two bodies at different potentials are linked with a wire, free electrons stream from Point 1 to […]

A better inventory management system, stricter portion control, and more efficient production procedures can help cut down on waste. When equipment is properly maintained on a routine basis, the need for costly repairs or replacements may be avoided. In addition, the utilization of cutting-edge marketing tactics such as social media platforms can provide promotional opportunities […]

However, an accountant or person in charge must ensure that any change in the value of the assets due to revaluation or impairment must be considered. As mentioned, there can be a contra account for any type of transaction depending on a company’s needs. Other than the above contra-asset accounts, we often see contra-revenue accounts […]

Without these adjustments, financial statements might misrepresent a company’s profitability or financial standing. Assets such as accounts receivable and inventory frequently use estimates to accurately reflect their value. As actual transactions occur or additional information is known, a company will adjust its financial position. For example, a company may record a bad debt provision for […]