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Perpetual Inventory System: Definition, Pros & Cons, and Examples

Perpetual Inventory System is a modern inventory tracking technique that offers businesses real-time insights into their inventory levels. Unlike traditional methods that rely on periodic checks, this system leverages technology to record inventory movement as it happens. As companies seek more efficient ways to manage stock and minimize errors, many are increasingly adopting this method …

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What Is Adjusted Gross Income (AGI)?

Tally / By Muskan Verma

Adjusted Gross Income (AGI) plays a crucial role in the income tax filing process. Whether you’re a salaried employee, a freelancer, or a business owner, understanding AGI can help you better manage your taxes. It is a foundational number in calculating your total tax liability and is often used to determine eligibility for deductions, credits, …

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Pareto Analysis: Definition, How to Create a Pareto Chart, and Example

Tally / By Muskan Verma

In today’s data-driven world, decision-making can become complex without the right tools. One of the most effective tools for prioritising issues and solutions is Pareto Analysis. Grounded in the 80/20 principle, Pareto Analysis helps businesses and individuals identify the vital factors that cause most problems. This strategic technique allows organisations to focus their efforts on …

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What Is Book Balance? Definition Vs Bank Balance and Example

Tally / By Amit Lingwal

Book balance is a fundamental accounting concept that plays a crucial role in a company’s cash management and financial record-keeping. It refers to the cash balance recorded in the company’s accounting system, representing all transactions that have been recorded but not necessarily cleared through the bank. Understanding book balance is essential for accurate reconciliation and …

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