Accounting Conventions Following are the accounting conventions: Convention of Materiality Materiality concept states that items of small significance need not be given strict theoretically correct treatment. In fact, there are…
Whati is Slip System? Slip is a method of rapid posting in books maintained under Double Entry principle. Under this system, posting is done from slips and not from journals…
What is Consolidated Financial Statements? A consolidated financial statement is financial statement, which represents the financial information of holding company and its subsidiary company as a single entity. It is…
What is Holding Company? A holding company is a company or limited liability company (LLC) which has control over another company. When a company acquires all or majority of shares…
What are INCO Terms? The Incoterms is a series of pre-defined 3 digits alphabetical commercial rules developed by the International Chamber of Commerce (ICC) to facilitate the exporter and importer…
The most important transport document used in financing foreign trade is the bill of lading (B/L). A B/L is a shipping document issued to the exporter or its bank by…
What is Letter of Credit? Letters of Credit’ (L/C) also known as ‘Documentary Credits’ is the most commonly accepted instrument of settling international trade payments. A Letter of Credit is…
Foreign market entry is the most important decision of a business unit. The future of business unit depends on this decision whether it will survive or not. Mainly three modes…
FTP 2015-20 provides a framework for increasing exports of goods and services as well as generation of employment and increasing value addition in the country. The government aims to increase…
The concept of the quantity theory of money (QTM) began in the 16th century. As gold and silver inflows from the Americas into Europe were being minted into coins, there…
