The term Useful life in Accounting, is used for Fixed Asset Accounting. Fixed Assets always are having certain life, during which asset is expected to provide benefits to an entity. The expenditure on purchase of Fixed Asset is always very high & is non-recurring in nature. Fixed Assets are capitalized & get depreciated over the period of its life. In other words, it is an estimation of number of years, that the Asset is remain in service for the purpose of cost effective revenue generation. The idea behind this is,…
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Rule of 72
Rule of 72 is used to calculate approximate rate of interest or expected duration to get the investment double. Everyone want money.. want to get their money doubled as soon as possible. Some one set the target years, & someone estimate expected rate of interest for target years.. Every exercise is around getting the money grown from an Investment. Instead of involving in complex mathematical functions, this Rule of 72 is a very best short cut to find out the approximate time frame or rate of return. This rule of…
Continue Reading.....What is Money Laundering?
Money Laundering means concealment of the origins of illegally obtained money, by means of transfer through foreign banks or through legitimate business houses. It is defined as any act, or attempted act, to conceal or disguise, the identity of illegally obtained funds; so that they appear to have originated from legitimate & legal sources. Money Laundering also means the use of money from illegal activities by concealing the identity of individuals who obtained the money or the means by which it was obtained & converting into assets that appear to have…
Continue Reading.....Getpaid | GetPaid tool in Account Receivable | Order to Cash
GetPaid : Experts thought: It is a tool that facilitates, efficient management of the Receivables of any organization. It improves the efficiency & effectiveness of managing Receivables with automated workflow. This is a tool that provides efficient Cash Application features. Helps organization to define corporate credit risk, collections (Account Receivable / AR) strategies to ensure risk-based collection efforts supplemented with Decision analytics capabilities & dispute resolution features. .
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