Found 235 Articles for Economics

In every area of life, from the classroom to the workplace to the economy to one's own physical well-being, the ability to exert control is crucial. Inadequate or nonexistent control mechanisms will prevent any corporation from reaching its full potential. Monitoring management is just as important as monitoring employees, finances, and equipment. For this reason, many organizations turn to internal audits and internal control systems. Even though they are often used interchangeably, these two terms are not identical. For more information on these differences, please read this article. What is Internal Audit? This is a consulting activity that has been ... Read More

No matter how small, medium, or huge the business deal is, there is always some risk involved. Internal controls should be implemented to mitigate these threats. An error, omission, or unplanned event that might result in monetary loss is an example of risk. An auditor may issue inaccurate views on a company's financial accounts. Despite laws requiring all publicly listed corporations to publish accurate, relevant information about the current and future position of the business, this remains the case. There are three ways to classify these threats: those that are inherent, those that can be managed, and those that can ... Read More

Taxes are the mandatory contributions that citizens must make to the government so that it can fund essential services and programs. Acts of resistance or evasion are illegal ways to avoid paying, and those who do so risk legal repercussions. As a result, most countries have fully functional tax systems, and the government bears the cost of tax collection. Subunits such as property, gifts, estates, wealth, inheritance, payrolls, and sales are all liable to taxation. Inheritance and material riches are two other components. In the event that taxation is necessary, fair procedures must be used. The two most common types ... Read More

Choosing the right stock mutual fund to invest in can be a challenging task. This is because certain stocks might offer large rewards while also posing high risks or low risks. While both value and growth funds may be lucrative investments, it's vital to familiarize oneself with the former and the latter's dangers, yields, dividend payoffs, and possible time horizons before seeing a return on one's initial outlay. What are Growth Funds? These are stocks in a company that is expected to expand at a very fast rate compared to its performance in the previous year. Their prices are higher ... Read More

The transformation from a funnel to a flywheel! The concepts are ubiquitous in the corporate world, especially in the fields of marketing and sales. For a very long time, businesses have used the notion of a sales funnel as the framework for organizing their marketing and sales activities. Salespeople, CEOs, and marketers have complained that this doesn't work, despite the fact that it has been shown advantageous. One of the most powerful influences on consumer behavior is positive word-of-mouth and recommendations from current customers, yet the sales funnel considers the customer as an afterthought rather than a driving force. The ... Read More

The expansion of new types of employment has led to a corresponding increase in diversity in workplace cultures and organizational structures. Individuals typically held down a single job in the past, but the emergence of on-demand service providers like Uber, a decline in the number of people finding work in traditional settings, and the need for greater flexibility have all contributed to the rise of what is now known as the gig economy. Both of these economic systems are commonplace in the modern world, yet they are different in important ways. What is Gig Economy? Due to the economy's current ... Read More

The existence of an economic system, as well as the way in which it functions, is of critical significance in any economy. This answers all of the issues that arose regarding the economy; The categories of products that should be manufactured How should the products themselves be manufactured? Who should be responsible for producing the goods? To function properly, an economic system is required to take into account not just the rights of consumers and producers but also the rules of the government. However, significant economic choices can be taken by either the government or by individuals, which ... Read More

Various challenges might have varying effects on a country's economic operations. There are a lot of people invested in a country's economic prosperity, and these things hurt them. The terms "financial crisis" and "economic crisis" are used to explain the state of an economy or a country. While both refer to economic issues, there is a notable difference between the causes of recession and the impact of the recession on a country's economy. What is a Financial Crisis? A financial crisis occurs when the value of a country's financial assets drops dramatically. As a result, asset values drop, consumers can't ... Read More

A major advancement in the evolution of banking occurred when grains were used as collateral for loans in ancient Babylonia and Assyria. We would be quite surprised by the financial systems of the past if we could travel back in time to an era before technological breakthroughs. Every day, new technical advancements pave the way for the development of innovative financial systems that compete with traditional banks. Financial technology and products within the financial technology sector underpin the vast bulk of existing banking infrastructures. Although many people worry that fintech will undermine traditional banking, the advantages it provides are ... Read More

Running a business is a challenging endeavor. Audits are often understood to be examinations of a company's records, procedures, and software to ensure their accuracy, authenticity, and completeness. We still have the most pressing issue here. Some people hear "audit" and immediately think of a financial audit. However, there are several audit types, each of which serves a specific purpose. Management audits, cost audits, internal audits, and efficiency audits are all instances of this type of audit. The processes by which they are carried out, and the results that are expected from them are different for each of these. ... Read More