Intellectual property refers to the human creations, in which a person uses his/her brain, labour and capital. Copyrights and Patents are two rights that provide protection to Intellectual Property. These are the intangible assets which a company owns and has some economic value. While copyright protects creative and intellectual works, which covers artistic, literary, musical and dramatic work. It is used to differentiate various classes of work. On the other hand, a patent protects new … [Read more...]

The basic difference between fixed asset and current asset lies in the fact that how liquid the assets are, i.e. if they can be converted into cash within one year, then they are considered as a current asset while when the asset is kept by the firm for more than one accounting year, then it is known as fixed assets or non-current assets. In accounting, we often encounter the term assets, which indicates those items or resources owned by the firm, which is supposed to provide monetary benefit … [Read more...]

The tangible assets are the class of assets that are physically present, thus they can be seen or touched. On the other hand, the intangible assets represent the assets which are abstract, i.e. they can neither be seen nor touched, but can only be experienced. Assets are anything having some value, which is owned by an individual or firm and is expected to provide economic benefit in future. It is the basic business requirement that is needed by the company for its smooth functioning. It is … [Read more...]

While income is generated, wealth is created, there is a big difference between two. Many think that these two terms are one and the same thing, but in reality, income is a stream of money, which a person receives from different sources such as salary, rent, profit, interest etc., that helps in the creation of wealth and wealth is the total market value of all the assets possessed, stored or saved by a person for future use. The former is the money earned by a person, over a limited period … [Read more...]

GDP, i.e. gross domestic product refers to the aggregate market value of all the finished goods and services produced by a country. On the other hand, GNI stands for gross national income which takes into account country's GDP and net income earned abroad. National income refers to the ultimate outcome of all economic activities of the country during a period of one year, measured monetarily. It is an imperative macroeconomic concept, that ascertains the business level and the economic status … [Read more...]

The structured interview uses preset questions, which are asked to all the candidates. On the other extreme, in an unstructured interview, the questions which are asked are not determined in advance, rather they are spontaneous. Interview is described as an in-depth conversation between two or more persons, in a formal way, so as to figure out candidate's acceptability for the job. It is one of the most effective tools for data collection and selection. It is one to one communication between … [Read more...]

Research process starts with the collection of data, which plays a significant role in the statistical analysis. We quite commonly use the term 'data' in the different context. However, in general, it indicates the facts or statistics gathered by the researcher for analysis in their original form. When the data is processed and transformed in such a way that it becomes useful to the users, it is known as 'information'. While data is an unsystematic fact or detail about something, information … [Read more...]

Gone are the days when the commercial activities like the exchange of goods and services for money, between parties, takes place only in the traditional mode, i.e. the customer has to go to the market, look at the variety of products, choose the required stuff and the purchasing them by paying the specified amount. But with the advent of e-Commerce, people can buy goods, pay bills, or transfer money in just one click. Many people, still prefer traditional commerce over e-Commerce, due to … [Read more...]

As the term, 'intra' means 'within', so the communication that takes place within a person is called intrapersonal communication. On the other hand, the term 'inter' means 'between', so when the communication occurs between two or more persons, it is said to be interpersonal communication. We, humans, are social animals, and we always need someone to talk or share our opinions, news, and even feelings. Communication is a substantial part of our life, whether we say something or not, it … [Read more...]

Supply Chain is the assemblage of all persons, entities, resources, processes and technologies which participate in the production and distribution of the goods and services, effectively to the final consumer. In the business world, we often hear the terms like vendors and suppliers, as they are the important links of the supply chain process. While vendor is someone who offers a product to customers for sale, who is the last link of the process economic production chain. On the other hand, a … [Read more...]