Accounting & it's definition Terminology Hmar Tawng

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# FINANCE, STOCK AND COMMODITY MARKET TERMINOLOGY:

AGENT: A brokerage firm is said to be an agent when it acts on behalf of the client in buying or purchasing of shares. At no point of time in the entire transactions the agent will own the shares.

AMORTIZE: To amortize is to charge a regular portion of an expenditure over a fixed period of time. For eg, If something cost Rs.1,00,000 and is to be amortized over ten years, the financial reports will show an expense of Rs.10,000 per year for ten years. Intangible assets such as Patents, and trademarks are amortized in to profit and loss account.

ANNUITY DUE: An annuity due whose payments occur at the beginning of each period.

ANNUITY: A series of payments of an equal amount at fixed intervals for a specified number of periods.

ASSETS: Asset means an economic resources that is expected to be of benefit in the future.

CURRENT ASSET: CA are those assets that can be expected to turned in to cash within a year or less. For eg, Cash, marketable securities, inventory, and account receivable.

FIXED ASSET: Fixed assets cannot be quickly turned in to cash without interfering with business operations. These are valuable items that last more than one year. For eg, Land, Building, Vehicle, Machinery etc.

AUDIT: Audit is a careful review of financial records of an organization to verify their accuracy.

BAD DEBTS: Bad debts are amount owed to a company that are not going to be paid. An account receivable becomes a bad debt when it is recognized that it won't be paid. Sometimes bad debts are written off when recognized.

BALANCE SHEET: Balance sheet is a statement of the financial position of a company at a single specific time. The balance sheet normally lists all assets on the left side or top while liabilities and capital are listed on the right side or bottom.

BOND: Bond is a type of long-term Promissory Note. Bonds can either be registered in the owner's name or are issued as bearer instruments. It is a written records of a debt payable in the future. The bond shows amount of the debt, due debt, and interest rate. It is a promissory note issue by companies or government to its buyers. It speaks about specified amount held for a specified time period by the buyer.

10th April, 2022

Kjs day

Mihriem nina= Asset
Difficulty=Liability or temporary
Simplicity=Capital

Be confident👌

Be positive➕

Y birthday on 10/02/2022