Balance of Trade

Balance of trade is the difference between the value of exports and imports of goods and/or services of a country in a specific period. As it measures the difference between exports and imports, it isRead More

Accounting

Accounting is the art of serving necessary and effective financial information of economic entities through the process of recording, summarizing, analyzing and reporting transactions to concerned parties. It conveys information about the financial health ofRead More

Asset

Asset is a resource having economic value someone owns or controls with an expectation of getting future economic benefit. In business or accounting, an asset is an economic resource that an individual, a company, aRead More

Consignment

Consignment is a collection of goods or materials to be sent, in transit or having been sent by owner (consignor) to another person or agent’s (consignee) custody for sale, keeping legal ownership of the goodsRead More

Accounting infrastructure

Accounting Infrastructure is a set of systems and conventions that directs the functional accounting practice of an enterprise or a professional body under a legal framework and adopted accounting standards. A standard accounting infrastructure ensuresRead More

Normal spoilage

Normal spoilage is the unavoidable part of spoilage occurs in a production process. It will occur even the production process is operated with the highest efficiency. That is why it is also known as predeterminedRead More

Accelerated depreciation

Accelerated depreciation method is a depreciation method that charges major portion of the cost of assets in earlier years and minor portion in later years of assets life. This depreciation method defers tax liabilities inRead More

Payroll

Primarily, Payroll refers to “the list of all employees of an organization or company”. Nowadays it became a polysemic word. It has some other meanings too, these are: Payroll means the employees of an organization,Read More

Limited audit

An audit that is limited to a particular time span (usually less than a year) or accounts or operation is known as limited audit. Scope of limited audit is less wide compared to full audit.Read More

CPA – Certified Public Accountant

Certified Public Accountant or CPA is a professional accounting degree. From another perspective, CPA is the license to provide accounting services to public. In many English speaking countries, CPA is the title for qualified accountantsRead More