What is Finance Costs

Finance Costs: Finance costs are those costs associated with providing the permanent, long term and short term finance. That is, within the section headed finance costs we will find dividends, interest on long term loans and interest on short term loans e.t.c.

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What is Fixed Asset

Fixed Asset:-
 

Fixed Assets are long term assets with a maturity of more than one year.

Examples are

• Equipments
• Furniture s
• Fixtures
• Machinery
• Goodwill

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What is Current Liability

Current Liability:-
 

Current Liabilities are short term Liabilities with a maturity of one year or less. 

Examples are

• Account payable
• Accrued expenses
• Bank over Draft
• Income tax Payable

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What is Current Asset

Current Asset:-

Current assets are short term assets with a maturity of one year or less.

Examples are

• Cash
• Marketable Securities
• Inventories
• Short term Investments
• Accounts Receivable
• Prepaid Expenses

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What is Long Term Liability

Long Term Liability:-

Long Term Liabilities are Liabilities with a maturity of more than one year

For Example 

Long term Bank Loans

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Difference between Cost and Expense

Difference between Cost and Expense:-

Cost is the Price of a product and when the utility of that product is finished then it is expend. For example if we buy a coke for BDT 35, then the cost of the coke is BDT 35 and when we finished the coke then it is expend.

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