What’s note receivable?

Notes receivable is the written promise to receive principal and interest in the future. In simple words, note receivable is a written, unconditional promise by … Read more


What is ERP– Detailed aspect

ERP is an advanced system of business management that integrates different operating modules and business intelligence. It helps in effective business management with real-time reports … Read more


Materiality in accounting

The concept of materiality helps an accountant decide which account balances should be disclosed separately and which of the account balances should be merged. The … Read more

Mortgage loan

Mortgage loan

The mortgage loan concept is assets are given as security against receipts of the funds. Mostly, banks and other financial institutes provide loans of 80% … Read more

FICO score

FICO Score

Fair Issac Corporations calculate FICO score. Different lenders used the FICO score of the borrower to decide on the extension and approval of the loans. … Read more


GAAP and principles

GAAP refers to generally accepted accounting principles. It’s a set of procedures, accounting principles, and accounting standards related to business reporting and financial accounting. The … Read more