What is Gross vs Net?
Gross means the total or whole amount of before deductions. Net means what remains from the whole after certain deductions are made. For example, a… Read More »What is Gross vs Net?
Management Materials
What is Amortization?
Amortization is an accounting technique used to periodically lower the book value of a loan or intangible asset over a set period of time. Concerning… Read More »What is Amortization?
What is Fiscal Year?
A fiscal year is a 12-month period that an organization uses to report its finances. It could be a 12-month period of time or a… Read More »What is Fiscal Year?
What are Accounting Statements?
We have three accounting statements. A complete set of accounting statements are used to give readers an overview of the financial results and condition of… Read More »What are Accounting Statements?
What is Non-Profit Organization?
A non-profit organization also known as a nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in contrast… Read More »What is Non-Profit Organization?
What is Single Entry System?
A single Entry System is a method of keeping records of financial transactions, which is rarely prevalent these days. In this system, only one side… Read More »What is Single Entry System?
What is E-banking?
E-banking is known as electronic banking, online banking, or internet banking. It is simply the use of electronic and telecommunications networks for delivering various banking… Read More »What is E-banking?
What is Deed?
A deed is a formal and dignified instrument. In general, it refers to any document by which two or more parties agree to put into… Read More »What is Deed?
What is NEFT? (National Electronic Funds Transfer)
NEFT (National Electronic Funds Transfer) is an electronic funds transfer system maintained by RBI. Started in November 2005, the setup was established and maintained by… Read More »What is NEFT? (National Electronic Funds Transfer)
What is RTGS? (Real-Time Gross Settlement)
RTGS is a short form for Real-Time Gross Settlement. It is a facility provided by the banks, that allows instant and complete settlement of funds… Read More »What is RTGS? (Real-Time Gross Settlement)