Definition: Marketing environment implies the atmosphere of the market which consists of the internal environment, micro-environment and macro-environment. It manages the various forces and factors of the organization that influences their marketing management skills to develop and retain favourable transactions with its recognized customers. Content: Marketing Environment … [Read more...] about Marketing Environment
Cash Flow Statement
Definition: A cash flow statement is a financial statement which serves the inflow and outflow of the cash and cash equivalents by the company. It consists of all cash receipts and cash payments transactions of the company during the year. It aims to determine the difference between the company's cash-in-hand at the beginning and the end of the year. A specified protocol of … [Read more...] about Cash Flow Statement
Inflation
Definition: Inflation implies acceleration in the universal price level or moderate level of prices, of all goods and services. In microeconomics, the price of goods is determined when the demand is equal to its supply. Precisely, any factor that either reduces supply or increases demand creates Inflation and when the general price level continues to rise over a long time, it … [Read more...] about Inflation
Internal Audit
Definition: Internal Audit indicates an independent assessment of activities inside an organization to inspect financial, accounting and other, day-to-day business practices. It gets along with a steady and crucial review of the management's operating and financial activities reporting to the board of directors. It provides assurance on governance and internal control checks … [Read more...] about Internal Audit
Outsourcing
Definition: Outsourcing implies getting work done from the outside bodies. The companies generally use this process to deploy the non-core but relevant sector of their business. For this, two companies draft a legal agreement for the exchange of payments and services. For an action to be called ‘outsourced’ it should be: A recurring action. An action that the firm … [Read more...] about Outsourcing
Strategic Management
Definition: Strategic Management is understanding the management's aim and making a strategy to accomplish such aims by efficiently utilizing an organization's resources. It is mainly concerned with describing the management about its environment, developing strategies to comply with that environment and assuming that the application of strategies takes place. In short, it … [Read more...] about Strategic Management
Auditor
Definition: An auditor is a body who organizes an audit process. He is the one who creates an audit report after due examination of accounting records and accounting statements of the company forming his impression/assumption regarding financial statements fairness and reliability. Content: Auditor Qualification of an Auditor Qualities of an Auditor Responsibilities … [Read more...] about Auditor
Shares
Definition: Shares are the smallest unit of the company's capital or can be said as a unit of equity. The holder of such shares in a company is known as "Shareholders" (the owners of the company). These shares can be issued to the public for raising the funds of the company for its expansion. The market used for trading of shares is known as “Share Market” which deals in … [Read more...] about Shares
Bank Reconciliation Statement
Definition: Bank reconciliation statement is a statement made by a firm to obtain the balance of the passbook through the balance of cash book by making certain adjustments or finding the balance of the cash book by taking the balance of passbook on a precise date. It is prepared to understand the precise position of the transactions and to make sure that no blunder has … [Read more...] about Bank Reconciliation Statement
Gross Domestic Product (GDP)
Definition: Gross Domestic Product (GDP) is the total market value of the services and final goods formed within a nation's boundaries in a financial year. It is used to measure the comprehensive achievement of an economy. The nations' GDP growth is calculated with an increase in the GDP from the previous year to the current year, which can be calculated yearly or … [Read more...] about Gross Domestic Product (GDP)