Business

Capitalization It is the act of converting revenue into capital. It is the recordation of a cost as an asset, rather than an expense. It…

Co-ventures Account Like the capital accounts in partnership, the co-venture account is opened in a joint venture. Co-venture is a business project or enterprise undertaken…

Cost, Insurance and Freight (C.I.F) C.I.F. abbreviation stands for the words cost, insurance and freight. CIF is a conventional method of shipping goods for importers.…

Joint Bank Account A joint bank account functions just like a standard banking account, except that two or more people on the account. It is…

Cost and Freight (C & F) C & F stands for cost and freight. It is a legal term in international trade. When used in quoting…

Personal Account of Co-venture The co-venturers account is debited with goods and sales proceeds were taken over, remittance share of profit. Similarly, the personal account…

A broker is an intermediary agent in the purchase and sale of goods. He is an agent who negotiates contracts of purchase and sale (as…

Bottomry Bond This is an important document used in foreign trade. It is the contract for the loan of money on a ship. In the…

Joint Venture Account This account is prepared to ascertain the profit or loss on a joint venture. This account represents the results of the business,…

Book Debts Book debts are the amounts outstanding at a given date and owing to a trader by his customers as shown by the books…

Foreign Branches Because of the rapid development of trade, commerce, and industries and with the growing tough competition, the business enterprises are opening their branches…

Bonus Shares Bonus shares are free shares issued to the shareholders out of accumulated reserves. These are additional shares given to the current shareholders without…