Fictitious-assets

Fictitious assets

Fictitious assets meaning/definition Fictitious assets are not an asset in reality. However, these assets are recorded in the balance sheet to reflect a true sense … Read more

ERP

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

Materilaity

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