Patent
What are Patents? A patent is a government granted document conferring the inventor with the complete exclusivity of his invention for a specific period. It legally prevents any other …
Temporary Overdraft
Temporary Overdraft – Meaning An overdraft facility is a credit facility where the borrower can withdraw more money from its bank account than the available balance. The banks extend …
Sole Proprietorship
There are many business forms we come across in today’s world like a partnership, Joint Venture, Limited Liability Partnership (LLP), etc. Here, we shall discuss one of the most …
International Factoring
What is International Factoring? International Factoring is a must need service for the companies engaged in the import and export of goods and services. Companies engaged in international trade, …
Revocable Letter of Credit
Revocable Letter of Credit – Meaning A revocable letter of credit is a type of letter of credit in which the issuing bank can amend the terms of the …
Difference Between Lease and Finance
Both lease and financing are fundamental means to fund the purchase of an asset or investment. The end goal is the same; to give the borrower/hirer possession and right …
Bankruptcy Cost – It Could Cost You Much More Than You Expect
When a company is unable to honor its financial obligations, it files for bankruptcy. A bankruptcy filing is a legal solution that helps a company to free itself from …
Letter of Credit Mechanism
To understand the letter of credit mechanism, it is very important that we first understand what a letter of credit is and why it is used. Letter of Credit …
Fundamental Accounting Equation
What is the Fundamental Accounting Equation? The fundamental accounting equation seeks to explain the relationship between the assets constituting a business and the funds that have been used to …
Sales Volume Variance
Sales volume variance (or Sales quantity variance) is nothing but the dollar variance in total sales as a result of ‘over or underachievement of sales numbers’. The mathematical representation …