Category Archives: Finance

Accounting Policy – Meaning of Accounting Policy with different types

CAknowledge Financial Dictionary

Accounting Policy – Accounting Policies refer to specific accounting principles and methods of applying these principles adopted by the enterprise in the preparation and presentation of financial statements. Accounting policies are the specific principles and procedures implemented by a company’s management team and are used to prepare its financial statements. These include any methods, measurement systems and […]

Accounting – Meaning of Accounting, Definition of Accounting (All Details)

CAknowledge Financial Dictionary

Meaning of Accounting – Accounting is the language of business. According to American Institute of Certified Public Accountants (AICPA) – Accounting is the art of “Accounting is the art of recording, classifying, and summarising in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character, and […]

Interest on Capital, Journal entry for Interest on capital (All Details)

CAknowledge Financial Dictionary

Interest on Capital – Interest is generally allowed on capitals of the partner Interest on capital of partners is calculated for the relevant period for which the amount of capital has been used in the business. Normally, it is charged for full year on the balance of capital at the beginning of the year unless […]

Human Resource Reporting – All you need to know about HRR

CAknowledge Financial Dictionary

Human Resource Reporting – Human beings are considered central to achievement of productivity, well above equipment, technology and money. Human Resource Reporting is an attempt to identify, quantify and report investments made in human resources of an organisation that are not presently accounted for under conventional accounting practice. Human Resource Reporting The necessity of Human […]

Towards becoming a professional valuer demystifying the valuation conundrum

professional valuer

Towards becoming a professional Valuer demystifying the valuation conundrum: We have always been intrigued by magic.It is not often that a magician reveals his secrets. However, in the movie, Now You See Me, the magicians actually revealed the secret to their performance. In an early scene of the movie, a volunteer from the audience at a […]

Ledger – What is the meaning of Ledger, Format of Ledger

CAknowledge Financial Dictionary

Ledger: After recording the transactions in the journal, recorded entries are classified and grouped into by preparation of accounts and the book, which contains all set of accounts (viz. personal, real and nominal accounts), is known as Ledger. It is known as principal books of account in which account-wise balance of each account is determined. What […]

Blockchain : A Revolutionary Application in Financial Services (All Details)

Efforts have already been launched by a group of financial institutions to investigate the potential opportunities that blockchain holds for their businesses. Some organizations like USAA Bank and BBVA have already put in millions of dollars in Bitcoin service providers like Coinbase and Circleto study blockchain applications. Some others like Barclays and Fidelity have created […]

IFRS An Overview | Need of IFRS | Advantages of IFRS (All Details)

What is IASB, FASB, IFRS, Ind AS and US GAAP

IFRS An Overview | Need of IFRS | Advantages of IFRS. Here we are providing a complete overview of IFRS, Needs of IFRS And Advantage of IFRS. The term IFRS is an acronym for International financial reporting standards. which means a set of financial reporting standards issued by International accounting standards board (IASB). Find An Overview of […]

Book Keeping Meaning – Introduction, What is ? (Complete Details)

CAknowledge Financial Dictionary

Book Keeping Represent all documents in business which contains financial records and act as evidence of the transactions which have taken place. Book-Keeping is the science and art of correctly recording in the books of account all those business transactions that result in the transfer of money or money’s worth. Accounting and book-keeping are not one […]

UK VAT Compliance for Selling through Amazon FBA

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UK VAT Compliance for Selling through Amazon FBA: United Kingdom (Uk) Value Added Tax (Vat) Compliance For Selling Through Amazon FBA. E- Commerce is all about… Growing Fast… or Dying Slow…!! UK VAT Compliance for Selling through Amazon FBA A. Applicability of UK VAT If you sell goods in United Kingdom, it is likely that you […]