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What Is Uniform Costing? Meaning, Objectives, Advantages, Limitations, Ultimate Scope

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Cost Meaning: Cost Accounting: Whelden defines Cost Accounting as, “Classifying, recording and appropriate allocation of expenditure for determination of costs of products or service and for the presentation of suitable arranged data for the purpose of control and guidance of management”. The Institute of Cost and Management Accountants (ICMA) defines cost accountancy as, “The application … Read more

What Is Strategic Financial Management? Meaning, Features, Ultimate Importance

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What Is Strategic Financial Management? Features Of Strategic Financial Management: The Key Components of Strategic Financial Management: Financial Planning: Strategic financial management involves recognising the financial goals and objectives of the business organisation and creating a plan of action to atain those goals. Investment: Making strategic long term investments, and appropriate allocation of funds, while … Read more

Ultimate Audit Terms And Types You Must Know (Series 9)

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Auditing is nothing but the systematic and critical examination and verification of the books of accounts. It can be undertaken throughout the year or periodically.

The primary aim is to find out whether the financial statements exhibit a true and fair view of the business.

Top Audit Terms You Must Know! Audit Programme, Preparation For Conducting Audit (Series 8)

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Auditing is nothing but the systematic and critical examination and verification of the books of accounts. It can be undertaken throughout the year or periodically.
The primary aim is to find out whether the financial statements exhibit a true and fair view of the business.
An audit program is the auditor’s plan of action in a written form or a document.

Top Audit Terms You Must Know! Audit, Test Checking, Audit Work Papers (Series 7)

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Auditing is nothing but the systematic and critical examination and verification of the books of accounts. It can be undertaken throughout the year or periodically.
The primary aim is to find out whether the financial statements exhibit a true and fair view of the business.

Top Financial Terms You Must Know! Corporate Finance, Tax, Insurance (Series 2)

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By understanding various financial terms and the mechanism in which it functions, one can reach great heights. Finance is a vast subject which has several branches.

Top Stock Exchange Terms You Must Know

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The stock market or the stock exchange plays an integral role in the functioning and development of the economy. It is an important parameter to measure or ascertain the growth of a country. It helps to channelize the savings to better avenues and leads to capital formation. Lets understand the various terminologies in context to … Read more

Errors And Frauds In Accounting: Meaning, Types, Risks, Prevention

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Errors take place as a result of negligence or lack of knowledge or ignorance of the principles of the books of accounts whereas frauds refer to intentional misrepresentation of financial information by persons in the management. Frauds are committed intentionally for achieving some alterior motive.

What Is Computerised Audit? Meaning, Benefits, Limitations, Steps To perform- The Ultimate Guide

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Computerised Audit is the use of computerised system to conduct audit in an efficient way. It uses technology to collect and gather data, conduct the audit operations and further reporting of the same. It refers to the use of computers to achieve audit objectives. It processes various financial transactions as per the generally accepted accounting principles.

What Is Audit? Meaning, Objectives, Practical Procedure, Advantages, Disadvantages

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Audit is an examination of accounting records, undertaken with a view to establishing whether the correctly and completely reflect the transactions to which they purport to relate. It is the systematic and critical examination and verification of the books of accounts.

What Are NPAs?-NON Performing Assets: Ultimate Meaning, Classification, Reasons, Impact

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NPA stands for Non-performing Asset which is any advance or loan that is overdue for more than 90 days.
All the advances and loans sanctioned by financial institutions are considered to be ‘assets’ as they are capable of earning revenue for the lender by the way of generating interest income. However, things do not always work out as planned, a loan is considered bad when it is unable to generate interest, non-payment of principle and doesn’t serve its purpose.

What Are NBFCs?-Non Banking Financial Companies: Ultimate Meaning, Features, Impact

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NBFC stands for Non Banking Financial Companies.Non banking financial companies (NBFCs) are institutions that facilitate financial services like a bank but don’t hold a banking license and are not regulated. NBFCs cannot accept traditional demand deposits from the public, such as checks or savings accounts.

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