Definition: Company Auditor is an individual appointed for preparing an independent audit report of the company. They can be either appointed by the company’s Board of Directors, Shareholders, Central Government or Comptroller and Auditor General of India (C&AG) accordingly. An individual must have expert knowledge and a practising certificate from the Indian Institute of … [Read more...] about Company Auditor
Balance Sheet
Definition: Balance Sheet is the final statement of the financial report prepared after trading and profit/loss account of a company. It shows the company's exact financial position at the end of the financial year after evaluating the true and fair value of all the assets and liabilities of a business. In short, it is the basic statement of the company that examines the … [Read more...] about Balance Sheet
Consumer Price Index (CPI)
Definition: Consumer Price Index or CPI is the universal measure used for estimating the general price level of the goods and services produced in any nation. Every month the Bureau of Labor Statistics (BLS) computes and report the Consumer Price Index. It is a calculation of the accepted price paid by the metropolitan as well as rural users for a market basket of consumer … [Read more...] about Consumer Price Index (CPI)
Leadership
Definition: Leadership is an individual’s competence to influence their teammates, i.e., it is the ability to frame effective plans and influence others to deal with all the difficulties efficiently with proper guidance. It requires a clear vision of the desired goals and an ability to explore the various paths. An individual who leads a position in a leadership process is … [Read more...] about Leadership
Collective Bargaining
Definition: Collective Bargaining is a process used to resolve the conflicts amidst management and the employees relating to essential terms and conditions of the employment. It concludes with an agreement amongst the management's representatives and the employees' bargaining agents stating the issues regarding compensation and service conditions. Both representatives may … [Read more...] about Collective Bargaining
Hire Purchase System
Definition: Hire Purchase System is a system in which the hirer (hire purchaser) buys a good from the seller (hire vendor) but does not make a full payment at one time. However, makes a lumpsum amount as a down payment and the remaining amount will be paid in installments by the hirer. It is somehow like an installment system but, the major difference in installment system and … [Read more...] about Hire Purchase System
Product Positioning
Definition: Product positioning is the image formation of the product’s in the intended customers' minds against their competitors in the same market. A good product positioning impact should result in like if the customer thinks of a product, the image that comes in his/her mind should be of your product. It builds gradually with the customer's past experiences with your … [Read more...] about Product Positioning
Merger
Definition: Merger is a process of combining two companies or entities to form a third separate company by signing an agreement with a vision of going forward to achieve a respectable position in the market. To achieve the targets that they feel they can achieve together more appropriately by combining their strengths rather than working individually. However, the merger can … [Read more...] about Merger
Bank Audit
Definition: Bank audit is a procedure performed by an auditor appointed by RBI and ICAI to verify the financial statements of the banking institutions and to verify whether the banking concerns are following the law and compliances or regulatory framework applicable on them or not. Content: Bank Audit Regulatory framework Procedure of Bank Audit Types of Bank … [Read more...] about Bank Audit
Employee Welfare
Definition: Employees Welfare is a term which includes the perks and benefits provided to the employees of the organization apart from their regular salary or remuneration, the main motive of serving employee benefits services is to improve or enhance the employee’s well-being. Employee welfare measures are the efforts made by the employer to bring the desired results by … [Read more...] about Employee Welfare