How to implement an accounting information system

An accounting information system (AIS) is a system of collecting, storing and processing financial and accounting data that are used by decision makers. An accounting information system is generally a computer-based method for tracking accounting activity in conjunction with information technology resources. The resulting financial reports can be used internally by management or externally by […]

Collateral Finance In Lending Arrangements

In lending agreements, collateral is a borrower’s pledge of specific property to a lender, to secure repayment of a loan. The collateral serves as a lender’s protection against a borrower’s default and so can be used to offset the loan if the borrower fails to pay the principal and interest satisfactorily under the terms of […]

Fixed Deposit As A Financial Instrument

A fixed deposit (FD) is a financial instrument provided by banks or NBFCs which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account. It is known as a term deposit or time deposit in Canada, […]

Credit card hijacking

Credit card hijacking is a form of credit card fraud and the term is used when a person’s credit card is used by an unauthorized person (e.g. a thief or overaggressive vendor) to buy goods or services. The credit card owner usually has trouble reasserting control over the card, because usually he or she doesn’t […]

Salary – Meaning, Origins and National Variations

Image by/from Rasiel Suarez. Original uploader was Rasiel at en.wikipedia A salary is a form of payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour, or other unit is paid separately, rather than on a periodic basis. From the […]