Terms begin with Letter ‘ A ’

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 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

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

Act of God is an unforeseen and sudden disaster results from natural causes. It cannot be avoided through the use of caution and preventive measures. Act of God is beyond human control and none isRead More

An Alien Insurance Company is an insurer that has incorporated or formed in one country and provides its service to another country. An alien insurance company has to follow the rules and regulations of thatRead More

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