Game of Intellect

Page no : 6

Rushikesh (Chartered Accountant - Manager Finance)   (2375 Points)
Replied 16 June 2008

Intraday limit

The limit allowed on a dealer's position in each and all currencies during the course of the trading day.

 


Samrendra (Asst. Manager- Internal audit)   (221 Points)
Replied 17 June 2008

Holding Period

Holding Period is the period to which a persons holds the shares or scrips before selling it into the market.

Holding Period generally used in Calculation of Long Term and Short term Capital Gain


Rushikesh (Chartered Accountant - Manager Finance)   (2375 Points)
Replied 17 June 2008

audit trail

Paper or 'electronic' trail that gives a step by step documented history of a transaction. It enables an examiner to trace the financial data from general ledger to the source document (invoice, receipt, voucher, etc.). The presence of a reliable and easy to follow audit trail is an indicator of good internal controls instituted by a firm, and forms the basis of objectivity.


Samrendra (Asst. Manager- Internal audit)   (221 Points)
Replied 17 June 2008

Historical Cost:

Historical Cost is the well know principal of Accountancy. It states that all assets should be booked at its historical cost i.e. Actual cost of purchase of assets.


BALU V (CA) (186 Points)
Replied 18 June 2008

Assessment Year

AY means year which is following the previous year.



Samrendra (Asst. Manager- Internal audit)   (221 Points)
Replied 19 June 2008

Indirect Cost:

Indirect Cost are those cost which are not directly attributable.


Rushikesh (Chartered Accountant - Manager Finance)   (2375 Points)
Replied 19 June 2008

Ageing Schedule

The total debtor figure is broken down to show how long invoices have been outstanding (remained unpaid).

A list of accounts receivables that is broken down into groups such as 0–30 days, 31–60 days, 61–90 days, and over 90 days from date of sale. A company uses an aging schedule to show how effectively it is collecting on its accounts receivables.

Samrendra (Asst. Manager- Internal audit)   (221 Points)
Replied 20 June 2008

Holder:

Holder of the cheque represent that person who holds the cheque before being present for payment.


CA CS CIMA Prakash Somani (Landmark Group) (23502 Points)
Replied 20 June 2008

I would use "Audit" :

1. Professional examination and verification of a company's accounting data.
2. Independent review and examination of records and activities to assess the adequacy of system controls, to ensure compliance with established policies and operational procedures, and to recommend necessary changes in controls, policies, or procedures.
3. A planned, independent and documented assessment to determine whether agreed upon requirements are being met.
4. An audit is a professional, independent examination of a company's financial statements and accounting documents according to generally accepted accounting principles. ...
5. A student who audits a course formally registers for it and attends class sessions but earns no credit and has no obligation to complete homework projects or take tests.

6. An inspection/assessment activity that verifies compliance with plans, policies, and procedures, and ensures that resources are conserved. Audit is a staff function; it serves as the “eyes and ears” of management.
 

So next should start with...


Rushikesh (Chartered Accountant - Manager Finance)   (2375 Points)
Replied 20 June 2008

Horizontal Merger

A merger occurring between companies producing similar goods or offering similar services.This type of merger occurs frequently as a result of larger companies attempting to create more efficient economies of scale. The amalgamation of Daimler-Benz and Chrysler is a popular example of a horizontal merger.


Samrendra (Asst. Manager- Internal audit)   (221 Points)
Replied 20 June 2008

Hire Purchase:


Rushikesh (Chartered Accountant - Manager Finance)   (2375 Points)
Replied 24 June 2008

Hi,

You need to explain hire purchase..also its already covered...

Anyways,

Additional margin
The amount which a market participant would have to deposit in order to cover the loss resulting from an assumed worst-case price fluctuation.

 


CA. Shikha (Chartered Accountant) (4143 Points)
Replied 24 June 2008

Hidden assets

Hidden assets are assets that are not valued or incorrectly valued by the market, because of under-utlisation by their owners or because of poor communication or lack of information.


Rushikesh (Chartered Accountant - Manager Finance)   (2375 Points)
Replied 24 June 2008

redemption price

The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share.


Samrendra (Asst. Manager- Internal audit)   (221 Points)
Replied 25 June 2008

Holding Company:



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