goods and services

What is a Current Account?

January 9, 2018

Current Account is an important indicator of the economic health of a nation. It keeps a record of the transactions of the nation with the rest of the world i.e. the net of trade in goods and services, net transfer payments and also net earnings on cross-border...

What is the meaning of Accounts Receivable?

December 2, 2017

Accounts receivable are the due invoices for a company or the payments which the company has to receive from its clients who have purchased its goods and services on credit. The credit period is usually short and stretches from a few days to months. When the customers...

What is Balance of Payments?

November 30, 2017

The Balance of Payments is defined as the synopsis of the transactions of the national economy with the rest of the world. The term covers all the transactions which are done between the residents and non-residents of the country encompassing the goods, services and income. It also...

What is the meaning of Accounts Payable?

November 29, 2017

Accounts Payable refers to an accounting entry which stands for an obligation of an entity to pay-off short-term debt to its creditors to avoid default. It is a liability and thus is put under the header of current liabilities in balance sheets of many firms. It is...