Definition: As stated in the Accounting Standard (AS) 26 “Intangible Assets” published by the Institute of Chartered Accountants of India (ICAI). It is 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. An asset is a reserve transpired by … [Read more...] about Intangible Assets
Training
Definition: Training usually has been introduced to as teaching specific skills and conducts and is a critical strategic tool. For the endurance of the company, it is necessary that the individual must flourish and develop through training. It is a significant sub-system of human resource management and is a specific developmental function of the company. Various managers … [Read more...] about Training
Management Vs Administration
A debate arises between the two associated terms, Management and Administration. According to various management writers, both of them are identical and can be used conversely; the divergence exists in their use regarding distinct areas of human activities. Yet few authors don’t comply with this conclusion. In the initial stage of management evolution, both the management … [Read more...] about Management Vs Administration
Marketing Environment
Definition: An organization’s Marketing Environment subsist the factors and forces, farther marketing that influences marketing management skill to develop and retain favourable transactions with its recognized customers. The Marketing Environment consists of the internal environment, micro-environment and macro-environment. Content: Marketing Environment Factors of … [Read more...] about Marketing Environment
Cash Flow Statement
Definition: The Cash Flow Statement serves the shift of the cash by the company, i.e., accepting cash on the one side and making payments by cash on the other side. Its ambition is to determine the difference between the cash-in-hand the company has at the beginning and at the end of the year. A specified protocol of divergent stock exchanges demands corporate entities to … [Read more...] about Cash Flow Statement
Inflation
Definition: Inflation implies acceleration in the universal price level or moderate level of prices, of all services and goods. When the general price level continues to rise over a long time, it is known as “Sustained Inflation”. In microeconomics, the price of goods is determined when the demand is equal to its supply. Precisely, any factor that either reduces supply or … [Read more...] about Inflation
Internal Audit
Definition: Internal Audit indicates an independent assessment of activities inside an organization for the inspection of financial, accounting and other, day- to- day business practices. It subsists of steady and crucial review of operating and financial activities by management and reporting to it and not to stakeholders. Content: Internal Audit Procedure … [Read more...] about Internal Audit
Outsourcing
Definition: Outsourcing implies negotiating out a business operation or activity to an external body. For this, two companies draft a legal agreement for the swap of payments and services. For an action to be called ‘outsourced’ it should be: A recurring action. An action that the firm presently furnishes for itself or is commonly scheduled to implement for … [Read more...] about Outsourcing
Strategic Management
Definition: Strategic Management can be defined as the recognition of the aspiration of the institution and the procedure and activities to accomplish that aspiration or aim. It is mainly concerned with describing the management to its environment, developing strategies to comply with that environment and assuming that the application of strategies takes place. Content: … [Read more...] about Strategic Management
Auditor
Definition: The body which organizes auditing is termed as an auditor. He is the one who performs reports after due examination of accounting records and accounting statements, and he will be forming an impression/assumption regarding financial statements and will be reflecting a true and fair view of records. According to the Companies Act, 2013, only chartered accountant … [Read more...] about Auditor