Per Diem

Profit margin is the percentage of revenue that remains as profit after expenses are deducted. It tells you how many cents of every dollar you keep. There are different types — gross profit margin (revenue minus direct costs), operating profit margin (after operating expenses), and net profit margin

A customer deposit is money a client pays upfront before you deliver goods or services. It's advance payment for future work — not revenue yet, but a liability on your balance sheet because you owe the customer either the product/service or their money back. Deposits improve cash flow and reduce the

Inventory is the stock of goods a business holds for sale to customers or for use in producing goods for sale. It includes raw materials, work-in-progress, and finished goods. Inventory is classified as a current asset on the Balance Sheet because it's expected to be sold or used within one year.

Materiality is an accounting concept that determines whether an error, omission, or misstatement is significant enough to influence decision-making by users of financial statements. Small, inconsequential amounts can be handled with simplified accounting methods, while material amounts require preci