Project

project

Project is a limited-time venture, planned with a set of tasks to achieve the desired goal or goals which are not available now. The desired goal could be a product, service, result, business model or a strategy. In today’s competitive and technological advanced business environment it could be anything. Project and routine operations are not … Read more

Finance

finance

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

LIBOR

LIBOR stands for London InterBank Offered Rate (aka ICE LIBOR) is the benchmark interest rate for interbank short-term unsecured loans. LIBOR is calculated based on submission of interest rates by panel banks (ICE LIBOR Currency Panels), that they expect they would be charged by others for borrowing money. So, LIBOR is an average rate at … 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. Legal compliance is not mandatory for a limited audit. Examples of Limited Audit Examples of limited audit are: Interim audit … Read more

Payroll

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, along with their information. Payroll is the total amount of money an organization pays to its employees during each pay … Read more

Prototype

prototype

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

Mortgage

home-mortgate

Simply, a mortgage is a loan to purchase your home. A bank or mortgage lender gives you money to buy your dream house. Sounds great, huh! When you decided to buy a house and have decent monthly income but you could not pay the entire value now, then the bank or mortgage lenders come like … Read more

CPA – Certified Public Accountant

become-a-cpa

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 accountants who provide business and financial consulting services. In United States, to become a CPA you must fulfill the ‘3E’ requirement. … Read more

What is Data Redundancy?

Data redundancy is the repetitive storage of the same data in data storage or Database Management System (DBMS). Now, you got the point that the data repetition leads to data redundancy. So, what is data repetition? Data repetition or repetitive storage of data means a single piece of data is stored more than one time. … Read more

Financial Statement

Financial statements are a set of four most significant reports of a business corporation or an organization. It tells about the overall health of a business in terms of finance. A standard set of Financial statements include: Balance Sheet or Statement of Financial Position Income statement or Statement of Income Cash Flow statement or Statement … Read more