How Do Tangible and Intangible Asset Differ from Each Other?

Assets refer to anything that has some value. They can be owned by an individual or a company with an expectation to bring them economic benefit in the future. Assets are something basic that businesses should own to ensure that they can function smoothly, and they represent the value of ownership that a company can … Read moreHow Do Tangible and Intangible Asset Differ from Each Other?

Are Accounting Treatments for Profit and Non-profit Organisations the Same?

A profit organisation, or a for-profit organisation, is a legal entity that runs its operation intending to generate profit for its owner. Conversely, a non-profit organisation has an objective of serving society. Hence, it is clear that the profit organisations have a profit motive, whereas non-profit organisations have a service motive. One may run a … Read moreAre Accounting Treatments for Profit and Non-profit Organisations the Same?