What Are Intermediate Goods? A Clear Guide for Business Owners I remember the first time a manufacturer asked me, “Mohnish, I buy fabric rolls and turn them into curtains. The fabric supplier calls it a ‘finished product,’ but my accountant says it’s an intermediate good. Who’s right?” That question captures the confusion most business owners…
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Freelancing has become one of the most flexible ways to build a career. People control their hours, choose their clients, and shape their work. Many even watch their income grow year after year. Yet something interesting happens behind the scenes. The moment tax season arrives, frustration sets in. Higher income doesn’t make taxes easier. In…
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The Truth Every Small Business Owner Needs to Know Last month, a friend who runs a small design agency called me, frustrated. “Mohnish, I sent an invoice to a client, and they keep asking why I’m billing them twice. I’m so confused—aren’t they the same thing?” I’ve had this conversation dozens of times. The confusion…
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I’ll never forget the day a promising retail startup owner sat across from me, visibly stressed. “Mohnish, the bank rejected my loan application. They said my current assets don’t support my current liabilities. What does that even mean?” She had healthy sales, a growing customer base, and genuine passion—but her balance sheet told a…
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What Type of Account Is Unearned Revenue? (And Why It Matters More Than You Think) I’ll never forget the conversation I had with Rajesh, a SaaS startup founder in Bangalore, about three years ago. He’d just landed his first big client—a ₹6 lakh annual subscription—and was thrilled. “Mohnish, we just made ₹6 lakhs!” he said…
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I still remember the day a frustrated bakery owner walked into my office with a shoebox full of receipts. “Mohnish,” she said, dropping the box on my desk with a thud, “my accountant keeps telling me I’m recording things wrong, but I don’t understand what I’m doing differently. I buy flour, I pay rent, I…
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What Is Net Sales? The One Number That Shows Your Business’s Real Revenue I’ll never forget the day a client walked into my office with a huge smile, waving his monthly sales report. “Best month ever!” he announced. “We did ₹12 lakhs in sales!” I pulled up his books. Then I showed him the…
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I’ll never forget the day a client walked into my office, beaming with pride about his “profitable” business, only to discover minutes later that he was technically insolvent. His bank account showed healthy activity, his sales were growing, but his equity told a completely different story—one he’d never learned to read. He’s not alone. Over…
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I’ll never forget the panic in Rajesh’s voice when he called me last year. He’d just had a massive argument with his business partner over profit distribution. “Mohnish, we both put in different amounts at different times, and now neither of us can agree on who owns what percentage of the company.” This wasn’t a…
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