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Taxes

Accounts receivable

is known as accounts payable.

Accounts payable is a term commonly used in the world of finance. It refers to the amount of money a company owes to its creditors, which is recorded as a liability on its balance sheet. These are typically unsettled transactions or claims that are part of the normal course of a business. As a knowledgeable professor, it is important to understand the significance of this term and how it impacts a company's financial standing.

Profit shifting

When it comes to managing a group or corporation, it's important to understand the concept of transfer pricing. This refers to the practice of allocating income and expenses...

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“On call” services

A parent company or group service centre offers various services to members of a multinational enterprise group, accessible at all times. These services may include financia...

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Deductions

In the realm of income tax, the term "deduction" refers to an item that is subtracted from taxable income, resulting in a reduction of said income. Essentially, deductions a...

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Forfait

In certain countries, taxes may be imposed on an approximate taxable amount, known as a forfait, specifically when it comes to income tax or turnover tax for small businesse...

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