Definition: Auditing is the procedure in which a qualified individual examines the books of accounts and assemble the evidence to form an assessment and convey their point of view to the responsible person or the management by submitting the audit report at the end of the financial year. The term “Audit” is borrowed from the Latin word “Audire”, i.e. to hear. In ancient … [Read more...] about Auditing
Consumer Behaviour
Definition: Consumer Behaviour is the analysis of the individual’s responses and approaches to fascinate their wants and desires. It involves procedure by which consumers acknowledge their utilization issue, seeks for information, classify options feasible in the market, build a conclusion and select a product, utilize and adapt the product for comfort and pleasure. It … [Read more...] about Consumer Behaviour
Indexation
Definition: Indexation is relief on long-term investments. A long-term investor can claim it merely by showing that, the value of their assets raised is not a real gain, but it rises only due to inflation. It is the inevitable link between monetary constraints and price level. It diminishes the cost of inflation and is enforced on interest, taxes and wages. For instance, … [Read more...] about Indexation
Intangible Assets
Definition: Intangible Assets are an attributable non-monetary asset beyond physical affluence, retained for use in the manufacturing or production of goods and services for renting to others or for supervisory purposes. Intangible Assets are described in the Accounting Standard (AS) -26 published by the Institute of Chartered Accountants of India (ICAI). An asset is a … [Read more...] about Intangible Assets
Training
Definition: Training is a critical strategic tool usually introduced as teaching specific skills and conducts. It is a significant sub-system of human resource management and is a specific developmental function of the company. For the stability of the company, it is necessary that the individual must flourish and develop through training. Various managers admit that regular … [Read more...] about Training
Management Vs Administration
Management and Administration both are the significant functions of any business organization. However, there are certain arguments that arise amidst the two correlated terms. According to various management writers, both of them are identical and can be used conversely but the major difference exists in their use in relation to distinct areas of human activities. In the … [Read more...] about Management Vs Administration
Marketing Environment
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