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A living wage is the minimum income necessary for a worker to meet basic needs, including housing, food, healthcare, and transportation, without public assistance. Unlike minimum wage, it reflects the local cost of living. A living wage supports a decent standard of living and promotes financial...

Fidelity layoffs refer to recent job cuts by Fidelity International and Fidelity Investments as part of cost-saving and restructuring efforts. Around 1,000 jobs were cut globally in 2024, including 700 in the U.S. and 500 in India, mainly due to economic pressures and a shift toward digital and...

Bookkeeping is the process of recording daily financial transactions, while accounting involves interpreting, classifying, analyzing, and summarizing that financial data. Bookkeeping is the foundation; accounting builds on it to provide financial insights.

Expense accounts do not appear on the balance sheet. The balance sheet shows assets, liabilities, and equity, which represent financial position at a point in time. Expenses are recorded on the income statement, reflecting costs during a period, so they don’t appear as accounts on the balance sheet

An auditor's report is a formal opinion issued by an independent auditor after examining a company’s financial statements. It states whether the financials are presented fairly and in accordance with accounting standards. The report can be unqualified (clean), qualified, adverse, or a disclaimer...

Phantom tax is a tax on income you haven’t actually received in cash, like profits from a business or forgiven debt. You owe taxes on it even though no money was paid to you.

Delaware is one of the few U.S. states with no state sales tax. This makes it an attractive location for shoppers and businesses, as purchases are generally not subject to additional tax at the point of sale. The absence of sales tax is part of Delaware’s broader strategy to encourage economic...

Depreciation is considered an operating expense because it represents the systematic allocation of the cost of a tangible asset over its useful life, which is a normal part of business operations. Although it is a non-cash expense—meaning no actual cash is spent when it is recorded—it still...

An acquisition is when one company purchases most or all of another—by buying its shares or assets—to gain control, expand market presence, secure valuable resources or technology, and achieve synergies. It differs from a merger in structure, and can be friendly or hostile

CFO stands for Chief Financial Officer, the senior executive responsible for overseeing a company’s financial health—managing budgeting, forecasting, reporting, risk, investments and strategy—while advising the CEO and board on financial decisions

Form 16 is a certificate issued by an employer that shows the salary paid and tax deducted (TDS) during the financial year. It is essential for salaried employees when filing income tax returns, as it provides a summary of income and the taxes already paid. You can use Form 16 to cross-check...

Good account management involves building strong, trust-based relationships with clients while ensuring their needs are consistently met. It requires clear communication, proactive problem-solving, and a deep understanding of the client's goals and business. Effective account managers balance...

EV (Expected Value) is calculated by multiplying each possible outcome by its probability and then summing those products. The formula is: EV=∑(P(x)×x)EV = \sum (P(x) \times x)EV=∑(P(x)×x)

In ETL (Extract, Transform, Load) batch processing, an audit table is used to track the status, progress, and history of data processing. It logs metadata such as timestamps, success or failure status, the number of records processed, errors, and other key details to ensure data integrity and...

SAP software is an enterprise resource planning (ERP) system used by businesses to manage operations like finance, supply chain, human resources, and customer relations. It integrates various functions into one system, enabling real-time data processing, improved efficiency, and streamlined...