Probir Banerjee has Published 469 Answers

What is Accounting? Different Types of Accounting

Probir Banerjee

Probir Banerjee

Updated on 27-Jul-2021 11:58:28

Accounting is a way to record and organize transactions. Accounting is usually done for big companies and corporate houses, but some accountants also serve individuals with accounting. Accounting processes raw financial information and shows them in an organized and systematic manner. It also shows whether a business is making a ... Read More

What is Accountability and what is its importance in an organization?

Probir Banerjee

Probir Banerjee

Updated on 27-Jul-2021 11:56:51

Accountability tells managers and employees to be accountable for their actions and duties in their respective roles. It keeps the employees attached to the best standard of output and makes them responsible for the work assigned to them.Organizations are different in terms of structure and hierarchy. Some may be less ... Read More

What is Account Balance and what is its significance?

Probir Banerjee

Probir Banerjee

Updated on 27-Jul-2021 11:55:04

Account Balance may refer to anything of the three belowIn accounting, the residual amount of money in the general ledger is the account balance. Under this agreement, debits and credits are considered. Usually, the net value remaining after deduction credits from debits, the net account balance is obtained.In banking, the ... Read More

What is Accidental Death Benefit and what are its types?

Probir Banerjee

Probir Banerjee

Updated on 27-Jul-2021 11:53:32

Accidental Death Benefits are riders added to standard life insurance policies. It pays an additional sum to the beneficiaries in case of accidental death of the insured. There are variations in definitions of accidental death and hence one must be clear about what constitutes an accidental death before opting for ... Read More

What is Accidental Death and Dismemberment Insurance?

Probir Banerjee

Probir Banerjee

Updated on 27-Jul-2021 11:52:15

Accidental Death and dismemberment is an insurance policy that pays the beneficiary on the death of the insured. It also pays for dismemberment related to speech, hearing, and sight. AD&D is a rider that is associated with general insurance policies to cover additional sum assured in case of accidental death ... Read More

What is Risk Retention and is it a good Risk Management Policy?

Probir Banerjee

Probir Banerjee

Updated on 27-Jul-2021 10:56:32

Risk Retention is the process where an individual or a company accepts the financial risks and does not act on them before they actually occur. These risks may be too small for which paying attention before could be too early. Some other risks are so big that taking any action ... Read More

What is Accepted Quality Level (AQL)? Types of AQL Defects and Levels of Quality

Probir Banerjee

Probir Banerjee

Updated on 27-Jul-2021 10:52:50

Accepted Quality Level (AQL) is a quality control process where a minimum threshold is set which has to be achieved by a batch of manufactured products. If there are more defects than AQL, the batch is completely rejected. AQL sets the standards of manufacturing and quality of a product and ... Read More

What is Accelerated Depreciation and how is it measured?

Probir Banerjee

Probir Banerjee

Updated on 27-Jul-2021 10:50:30

In Accelerated Depreciation, a capital asset loses its face value faster in an earlier year in comparison to later years. It is a process where the net value of depreciation in beginning is the highest while it gets reduced increasingly as the asset ages. This is not applicable to traditional ... Read More

What is Absorption Rate and what is its influence in the Property Market?

Probir Banerjee

Probir Banerjee

Updated on 27-Jul-2021 10:48:29

Essentially a Property Market tool, Absorption Rate refers to the rate at which homes are sold in the market. It is given by homes sold divided by the total number of houses available in the market.Absorption cost shows the demand for houses in the market apart from showing whether there ... Read More

What is Absorption Cost and what are its pros and cons?

Probir Banerjee

Probir Banerjee

Updated on 27-Jul-2021 10:46:43

Absorption cost is the total cost of manufacturing a product. It includes all types of costs associated right from the beginning and till the end of manufacturing a product. Labor, insurance, and costs of raw materials are included while calculating absorption costs. Companies also include overhead costs to calculate the ... Read More

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