An audit roll forward analysis is a process that involves reviewing the financial statements of an entity for a specific period and comparing them with the previous period's statements to determine any changes or inconsistencies for the period under review.
It is an item in the balance sheet (financial statements) that shows the money owed to the business by the customers/clients, who have purchased goods or availed services on credit.
Bad debts are debts that are not recoverable and hence determined by the company as uncollectible.
BPS stands for Basis Points. Its a Unit of meausrement for measuring interest rate movements. One basis point is equivalent to 0.01%
Cost to the company refers to the amount the company spends on an employee, in one financial year. It is expense for the company (manpower expense) and includes both monetary and non-monetary amounts spent on an employee, that is to say, all the components of salary from basic salary, allowances, bonus, perquisites, and employer contributions on account of post retirement benefit schemes.
De-dollarization refers to reducing dependency on U.S dollar for international transactions.
De-Dollarization process: involves substituting the dollar in various financial transactions of significance like trading oil,foreign exchange reserves, and bilateral trade agreements
GSR stands for General Statutory Rules. Statutory Rules including orders, by-laws etc of general character issued by the Ministries of the Government of India (other than the Ministry of Defence) and issued by Central Authorities (other than the Administration of Union Territories), are published in Gazette of India, under the head GSR.
Are assets which have no physical form/existence. It's a long-term asset that accrues value year over year. eg Brands, Goodwill, Intellectual property (copyright, patent, trademark etc).
ICEGATE stands for Indian Customs Electronic Data Interchange gateway. It is a national portal operated by the Central Board of Indirect Taxes and Customs (CBIC). It serves as a electronic platform to facilitate filing, processing and exchange of customs-related documents and information between customs department, business entities and stakeholders involved in shipping and trade.
While evaluating multiple investment proposals, the profit foregone from the alternate option evaluated but is not taken up/dropped, is the oppurtunity cost of the project selected.
A sub ledger is an accounting ledger containing account balances and transactions, for a specific subset of accounts within general ledger.
It is a part of General ledger accounts of the organization, where accounts with disputed or pending issues are parked, before they are moved to their correct account.
Is the amount received from sales, during the defined period
Underwriting is the process through which a person-can be an institution or an individual (called the underwriter) takes on the risk involved a financial transaction (banking, insurance or stock market) for a fee in the form of commission or premium.
In the process of manufacturing/processing, the additional utility/improvement/ economic value that the company adds to the product, at each stage of production is called value added
Work in progress in the context of Inventory, refers to those materials that are under processing, while eventually becoming a finished product.
Year-on-year or Year-over-year (YOY) is a financial term used to compare numerical data for a specific period of time with the corresponding period from the previous year.
It is a budgeting approach, the budgeting is started from the scratch or zero base.The proposed expenses for the budgeting period must be justified starting from the scratch ie from zero without any reference to previous year actuals or budget and making adjustments to it as is done in case of traditional budgeting.
Is an investment in debt issued the company, issued at deep discount to face value and repaid at full face value on maturity. The difference between the purchase price and redemption at par value, is the return/profit for the investor.