When it comes to turnkey contract management, understanding the defect liability period is crucial. This is the time frame during which the contractor is responsible for any defects in the work performed. It’s important to note that this doesn’t include normal wear and tear, but only actual defects that are discovered after the project is … Read more
Prototype means ‘Primitive form’ or ‘First impression’. Prototype is the very first or primary real-world version of a concept or an idea. It represents the real form of final product in part or full. Prototype is made to experiment with the viability of a concept in real world. There might be a great idea in … Read more
Data redundancy is the repetitive storage of the same data in multiple places within a database OR duplicate storage of the same data in more than one databases. Data redundancy can happen consciously for backup or data security purposes. Sometimes it may happen accidentally due to poor database design or inefficient software design. Now, you … Read more
EPC stands for ‘Engineering, Procurement and Construction’. Engineering, Procurement and Construction Contract or EPC contract is a type of construction contract between parties where the contractor is responsible for all the engineering, procurement, and construction activities to deliver the completed project to the employer or owner within a predefined time and cost. Role of an … Read more
The EBIT margin is a financial ratio that measures the profitability of a company calculated without taking into account the effect of interest and taxes. It is calculated by dividing EBIT (earnings before interest and taxes) by sales or net income. EBIT margin is also known as operating margin. It is characterized by reflecting the … Read more
Finance is the discipline of study that basically deals with money, management of money, and the value of money over time. It teaches us how to obtain the required fund at least possible cost and how to invest our available resources for maximum possible return. Finance intends to price assets based on their Rate of … Read more
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, a corporation or a country purchased, acquired or achieved which contributes to generating income or cash flow. An asset can be … Read more
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 is also referred to as trade balance. Balance of trade is a significant element of national accounting that identifies exports and … Read more
What is Earnings before Interest and Taxes (EBIT)? Earnings before interest and taxes (EBIT) is a financial metric that measures a company’s operational profitability. EBIT is calculated by subtracting a company’s expenses excluding interest and taxes from its total sales or revenues. EBIT gives a significant indication of a company’s operating profitability. Because EBIT is … Read more
Earnings per share (EPS) is the part of a company’s net profit obtained by each outstanding share of common stock. Earnings per share is a financial metric, that indicates the profitability of a company. Earnings Per Share Formula: We can calculate EPS by using the formula below: The number of outstanding shares of a company … Read more