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The “spell number” function is a tool used by accountants and finance professionals to convert numerical values into their written word form. This function is typically used to generate the written representation of a specific amount or value, such as converting “1234.56” to “one thousand two hundred thirty-four and 56/100 dollars.” The spell number function…
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I am in phase of improving myself as a person and develop adaptability to work with various people so trying to catch important learning points from some books. Why I chosen these books, as they have been praised by critics and readers alike, and they have helped millions of people around the world to make…
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Financial reporting consolidation is the process of combining financial data from various business units or subsidiaries within an organization to produce a consolidated set of financial statements. This process involves collecting, validating, and aggregating financial information from various sources to provide a comprehensive view of an organization’s financial position, performance, and cash flow. The process…
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The Bhagavad Gita is a sacred Hindu scripture that is considered one of the most important texts in the world. It is a dialogue between Lord Krishna and Arjuna, which takes place on the battlefield of Kurukshetra, just before the start of the great war of Mahabharata. The Gita consists of 18 chapters and is…
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The International Chamber of Commerce (ICC) has published the Uniform Customs and Practice for Documentary Credits (UCP 600) as a set of guidelines for banks and businesses engaged in international trade. Some of the key provisions of UCP 600 include: (adsbygoogle = window.adsbygoogle || []).push({}); (adsbygoogle = window.adsbygoogle || []).push({});
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International Standard Banking Practice (ISBP 745) is a set of guidelines established by the International Chamber of Commerce (ICC) to provide guidance on the interpretation of the Uniform Customs and Practice for Documentary Credits (UCP 600) in the context of documentary credit transactions. Following the ISBP 745 guidelines is important for LC payment requests for…
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What is LC (Letter of Credit)? “LC” typically stands for “Letter of Credit.” A Letter of Credit is a document issued by a bank that guarantees payment to a seller for goods or services, provided that certain conditions are met. Essentially, the bank acts as an intermediary between the buyer and the seller, ensuring that…
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AP and AR are both important accounting terms used to manage a company’s finances. AP stands for Accounts Payable, which refers to the amount of money that a company owes to its vendors, suppliers, or other creditors for goods and services that have been received but not yet paid for. Essentially, it’s the amount that…
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