Gratuity is a statutory or contractual employee benefit paid as a lump sum when an employee leaves after completing a required period of service. It is a long-term employee obligation for the employer. In accounting, gratuity may require provisioning based on actuarial or estimated liability calculations.
Group Financial Statements
Group financial statements are consolidated financial statements prepared for a parent company and its subsidiaries as if they were a single economic entity. They...
Gross Sales
Gross sales are the total sales value before deducting returns, discounts, allowances, or sales adjustments. It reflects the overall sales activity generated during a...
Gross Profit
Gross profit is the difference between revenue and the direct cost of goods sold. It shows how much a business earns from its core...
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