Business

Definition of Leases Written or implied contract by which an owner (the lessor) of a specific asset (such as a parcel of land, building, equipment, or machinery) grants a second party (the lessee) the right to its exclusive possession and use for a specific period and…

Definition of Royalty Accounts Compensation, consideration, or fee paid for a license or privilege to use an intellectual property (brand, copyright, patent, process) or a natural resource (fishing, hunting, mining), computed usually as a percentage of revenue or profit realized from the use. See…

Insolvency of partnerships If your Partnership Business debts are greater than its assets, or its trading income cannot cover its debts, then your partnership could become…

Definition of Insolvency Proceedings When an individual or organization can no longer meet its financial obligations with its lender or lenders as debts become due.…

Balance Sheet of General Insurance Company General Insurance Company are magical creatures that, in the hands of a skilled operator, perform alchemistic feats and literally mint…

A life insurance policy which provides a stated benefit upon the holder’s death, provided that the death occurs within a certain specified time period. However, the policy does not provide any returns beyond the stated benefit,…

Classification of Insurance: Insurance companies are generally classified as either mutual, or stock companies, but this is a traditional distinction as true mutual companies are…

Definition and Meaning of Insurance A promise of compensation for specific potential future losses in exchange for a periodic payment. Insurance is designed to protect the financial well-being of an individual, company or other entity in the case of unexpected loss.…

Banking Business in Bangladesh The financial system of Bangladesh consists of Bangladesh Bank (BB) as the central bank, 4 State Owned Commercial Banks (SCB), 5…

Heads of Income and Expenditure of a Bank Heads of Department shall maintain financial records as specified in Statutes and Ordinances; certify whether annual statements of…

Rules of Preparation of Balance Sheet A balance sheet allows you to see at a glance what your company’s assets and liabilities are. The balance…

Principles of Consolidation The financial statements as of December 31, 2011 of the companies included in the scope of consolidation, prepared in accordance with Group…