Category: Did You Know ?

It is often jokingly said that ‘Where there’s a will, there are relatives’. Jokes apart, it is important to make a will for the very reason that there are relatives, some of whom may be waiting to receive a part...

Human Resources are an integral part of any organization. It is essential to properly take care of the human resources for the organization to be successful. At the same time, managing human resources may turn out to be a tricky,...

In the past few years, there seems to be a change in the mindset of people and we are seeing more and more people leave their cushioned jobs and try out something new. Blogging is one such avenue which people...

Backorder Cost is a Cost which is incurred by a business when it is unable to fill an order and must complete it later. It is a real and perceived cost of the inability to fulfill an order. The costs...

An Escalation clause (also known as Escalator Clause) is a clause in a contract that guarantees a change in the agreement price once a particular factor beyond control of either party affecting the value has been determined. Because of increasing prices, it...

Sunk Cost is also known as ‘Past or Retrospective, embedded cost, prior year cost, or sunk capital’. Sunk costs are costs which cannot be recovered once they have been incurred. Since they are costs that can’t be regained so they shouldn’t be taken into...

Cash Flow Statement also known as Statement of Cash Flows is a statement which shows the Changes in the Cash Position of an organisation between 2 periods. Along with showing the changes in the Cash Position of an organisation, it...

Funds Flow Statement is a statement prepared to analyse the reasons for changes in the Financial Position of a Company between 2 Balance Sheets. It shows the inflow and outflow of funds i.e. Sources and Applications of funds for a...

Sarbanes Oxley Act is also known as ‘Public Company Accounting Reform and Investor Protection Act’, ‘Corporate and Auditing Accountability and Responsibility Act’, SOX & SARBOX. The possible questions that strike our mind while studying any law are Why, Who, When,...

The concept of a Director Identification Number (DIN) was introduced for the first time in India with the insertion of Section 266A to 266G of Companies Amendment Act, 2006. The DIN is a unique identifier for an existing or a...