Definition: The total market value of the services and final goods formed within a nation’s boundaries in a financial year is known as a Gross Domestic Product (GDP). Gross Domestic Product is used to measure the comprehensive achievement of an economy. Content: Gross Domestic Product (GDP) Factors of Gross Domestic Product Ways to calculate Gross Domestic Product … [Read more...] about Gross Domestic Product (GDP)
Non-profit organization
Definition: Non- profit organizations are established to provide aid to society. They are entrenched to develop charity, commerce, religion, or any other fruitful objects. Their main objective is to provide services without the intention of earning profits in return, like trading organizations. Content: Non-profit organization Types of accounts Formats Features of … [Read more...] about Non-profit organization
Vouching
Definition: Vouching is an exploration of vouchers or narrative evidence such as sales and purchase invoices, payment slips. It is the foremost step for performing the auditing process. It is used to assure that assorted action for the course is genuinely and adequately recorded in books of accounts. For understanding the vouching process, it is imperative to know what … [Read more...] about Vouching
Ledger
Definition: A ledger is an organized book of all the transactions that occurred in the business related to income, expenses, assets, liabilities. The entries in the ledger are posted from the journal entries passed; thus posting in the ledger is treated as the second step of preparing the financial books of accounts. Content: Ledger Classification of the Ledger Types … [Read more...] about Ledger
Lease
Definition: A lease is a legal contract among a lessor(owner) and a lessee (occupant) to grant a temporary possession or right to use property, i.e. land and building for a certain period and monetary compensation decided at the time of the agreement. Lease comes under the accounting standard-19. Content: Lease Parties Involved in lease Types of lease Advantages of … [Read more...] about Lease
Social Media Marketing
Definition: Social media marketing is a synergic project which means two or more than two people work on a platform, creating blogs and microblogs for written the content, uploading videos on YouTube. It helps in increasing the brand values and sales of the product by advertising. Social media platforms such as Instagram, Facebook is widely used; we generally think creating … [Read more...] about Social Media Marketing
Debentures
Definition: When capital is required by the company for expansion and development, but they don’t want to uplift their share capital in that position company can collect money from the public by issuing some certificates, those certificates are termed as debentures. They are also considered as creditorship securities. Debentures are the feasible alternative of term loans for … [Read more...] about Debentures
M-Commerce
Definition: In general terms, M-commerce is defined as an extended version of E-commerce in which handheld devices are used instead of desktop for buying and selling of goods. In other words, it is an innovative way of doing business over the internet. It was introduced in the year 1977 by Kevin Duffey at the global mobile forum launch. Content: M-Commerce Customer … [Read more...] about M-Commerce
FCB Grid
Definition: The FCB grid or Foote, Cone and Belding model is an integrative approach to interpret the consumer's buying behaviour and its implication for adopting suitable advertising strategy. It is depicted on a matrix with the help of four significant factors, i.e., thinking, feeling, high involvement and low involvement. In 1980, Richard Vaughn, along with his … [Read more...] about FCB Grid
Isoquant Curve
Definition: An isoquant curve is that convex shaped curve which is formed by joining the points depicting the different blends of the two production factors, providing constant output. Here, the term 'isoquant' can be cracked into 'iso' which implies equal and 'quant' that stands for quantity. The word altogether means the same volume or constant output at all points. The … [Read more...] about Isoquant Curve