A reserve is an amount of profit retained in the business for a specific purpose or as a general financial cushion. Reserves may be created for expansion, future contingencies, legal requirements, or strengthening the balance sheet. They form part of equity but are different from liabilities because they do not represent outside obligations.
Running Costs
Running costs are the ongoing day-to-day expenses required to operate a business, asset, vehicle, machine, or department. Examples include fuel, electricity, maintenance, salaries, consumables,...
Royalty
Royalty is a payment made to the owner of an asset, right, or intellectual property for the use of that asset by another party....
Risk Assessment
Risk assessment is the process of identifying, analyzing, and evaluating risks that could affect the financial, operational, legal, or strategic position of a business....
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