The Basel Committee on banking supervision started working on an international framework to enhance banking regulatory reforms and mitigate the risks. The Basel Committee started working immediately after the notorious global financial crunch in 2008. The current frame of proposed reforms for the banking industry is called the Basel III (03) or the third Basel […]
The Basel III (3) Accord – What Is It? (Guidance) Read More »
The budgeted balance sheet is just like a balance sheet, i.e., it contains all the assets, liabilities, payables, capital depreciation, amortization, etc, exactly like a balance sheet, but there is one big difference and that is that the budgeted balance sheet, unlike the balance sheet, presents the future balance sheet. In contrast, a balance sheet
What is a Budgeted Balance Sheet and How to Prepare It? Read More »
A financial statement is simply a snapshot of your business finances. It is a financial document that summarizes the financial position of a business entity and includes an analysis of its performance over time. As with any business analysis, a financial statement is only as good as the information and data available. The accountant’s responsibility
What are the 4 Types of Financial Statements? Read More »
Definition of Portfolio Risk Portfolio Risk can be defined as the probability of the assets or units of stock that the company holds sinking, thereby causing a significant loss to the company in terms of their investment. A portfolio is a combination or collection of stocks or investment channels within the company. Within the portfolio,
What is Portfolio Risk, and How Is It Calculated? Read More »
A letter of credit, or simply a credit letter, is a trading instrument issued by banks to confirm the trade payment terms between buyer and seller. The letter of credit of LC is required when buyers and sellers operate in different statuary or place large orders that require payment confirmation. Usually, a letter of credit
Revolving Letter Of Credit: How Does it Work? Read More »
In the current day and age, organizations must ensure that they carry out safer and more secure transactions to get suitable and viable returns. It is rudimentary for businesses working on credit to ensure that their credit risk is minimized and they can collect the amount their debtors owe them. That is the main reason
What Is A Bank Guarantee? Feature, Process, Types, Advantages, and Limitations Read More »
Definition: Long-term debts are non-current liabilities with obligations beyond one year. Long-term debt can be viewed from two perspectives: financial statement reporting by issuer and financial investing. The balance sheet must record long-term debts and the related payment obligations in the non-current section of the balance sheet. On the other hand, investing in long-term debt
7 Types of Long-term Debt: Definition, Explanation, And More. Read More »
Accounts receivable is an account in the balance sheet that represents the amount customers owe to a company. This account holds all the receivable balances which may come from various customers. For most companies, this account also represents the total credit sales made by a customer with pending payments. Any company that offers a credit
Accounting for Written Off Bad Debts: Definition, Example, and Journal Entries Read More »
Yes, the United States Citizenship and Immigration Service (USCIS) conducts a background check for applicants and their sponsoring persons. Let us get into details of how the USCIS performs a background check and what serious crimes bar applicants from getting a resident/citizenship status in the US. What is a USCIS Background check? The United States
Does USCIS Do Background Check? Read More »
The US Citizenship and Immigration Services verify the tax information of applicants and sponsoring spouses for green card applications. The Internal Revenue Service (IRS) does not share tax information with individuals and government entities, with a few exceptions. Let’s discuss what tax information applicants need and how the USCIS verifies this. Does USCIS Check with
Does USCIS Check with the IRS? Read More »
