Contra Account Definition: Types and Example.

Contra Account: Types and Examples A contra account is an account that offsets another account on a financial statement. Contra accounts are used to record adjustments to the value of an asset or liability. For example, a contra account may be used to record the accumulated depreciation of an asset. There are two types of … Read more

What is budget control?

If there is a fundamental tool for a company, that is budget control. This is one of the economic terms most important that a businessman or an entrepreneur must have at hand when managing a business effectively. Budgetary control is the set of ideas, actions and tools necessary to maintain the balance between expenses and … Read more