Marketing is omnipresent. Almost all the things that you have or you use, right from the pen to a water bottle, a mobile phone to a car, are touched by marketing. All we are saying here is that marketing has its impression on each of them. Basically, the impression of marketing could be highly noticeable or subtle, but that depends on the product and the context. It is the actual strategic activity of the enterprise. It is very essential for the survival, growth and expansion of the … [Read more...]

A company can be understood as a form of business organization, which is an association of persons, set up with an aim of undertaking business. It possesses a legal status distinct from its members and governed by the Companies Act, 2013. It is an artificial person, having perpetual succession and a common seal. It is commonly confused with the corporation, which is nothing but a body corporate, registered within or outside the nation. Generally, corporations used to mean big business houses, … [Read more...]

Invoices are an important instrument used in day to day operations of the business which acts as an evidence of the transaction. In general, there are two types of invoices - tax and retail. Tax invoice may be understood as the invoice issued by one registered vendor to another, during sales. Conversely, a retail invoice also known as sale invoice is issued, the sale is made to the final consumer. The main purpose of issuing tax invoice is to avail input tax credit. On the other hand, the … [Read more...]

Purchase order or PO is the first formal offer document created by the buyer and delivered to the seller, with an aim of making purchase. When the document is accepted by the seller, it becomes a legally binding contract between the two parties. It indicates the type, quality, quantity, rate of the goods desired by the buyer. Once, the goods are delivered invoice is issued to the buyer for payment. Invoice is a commercial document, which is used by the seller to notify the buyer that payment is … [Read more...]

A business transaction is one that is capable of being measured in monetary terms and that affects the company's operations. There are hundreds of business transactions that takes place daily. To record these transactions, there are different kinds of commercial documents are used. One such document is an invoice, which may be understood as a legal and commercial instrument, made by the vendor and sent to the customer or client, to authorize the sale. It sets forth, all the goods sent or … [Read more...]

The primary objective of every company is to create sales, as it is the primary source of earnings, i.e. income to the company. Therefore, the sales of the company are directly related to its income, i.e. the higher the sales, the higher is its income and vice versa. Here, we are talking about the net sales and net income. Net sales can be explained as the amount of sales arrived at, after subtracting returns, damaged or missing goods and discount allowed. Net income, on the other hand, is … [Read more...]

Financial Market implies a market wherein financial instruments like securities, currencies, commodities, etc. are created and exchanged between investors. It plays a crucial role in an economy, as it provides a medium for allocation of savings to investment. There are different ways of classifying financial market and so, based on the time of delivery, the financial market is classified as cash market and future market. Cash market, or otherwise known as spot market is one where the delivery of … [Read more...]

Buying and Selling are a part of daily routine. In fact, we indulge in a commercial transactions even without noticing it. In this context, invoice and receipt are the two business terminologies that we encounter very often. Do you know the issuance of both is on different events by the seller? A seller issues an invoice to the buyer when he delivers the goods on the customer's order, but the amount is due for payment. On the other hand, a seller issues a receipt when the customer pays off … [Read more...]

Bankruptcy can be understood as a financial state, whereby a person is declared insolvent by the court, resulting in legal orders directed to resolve insolvency, i.e. to dispose of personal assets to discharge obligations. On the other hand, liquidation may be defined as the process of winding up of company's affairs by disposing-off assets, in order to discharge liabilities of the debenture holders creditors, employees and other parties. While bankruptcy nothing but a legal scheme, wherein … [Read more...]

Cash can be defined as the money readily available with the enterprise, in the form of currency notes and coins. On the other hand, funds refer to each and every financial resource of a firm like cash, bank balance, accounts receivable and so on. It is something, which kept aside by the organization for a distinct objective. No matter what the size or nature of the organization is, money is the basic requirement of every enterprise, as it helps the business to survive and grow. The … [Read more...]