World Trade Organisation is an international organisation that is tasked with overseeing and regulating international trade between countries. It is mainly responsible for regulating trade which involves goods, services and intellectual property between the participating countries. The World Trade Organisation helps in facilitating this trade by providing a framework for negotiating the various trade agreements. […]

WTO – World Trade Organisation

Meaning of WTO WTO – World Trade Organisation, was established in 1995 as the heir organisation to the GATT (General Agreement on Trade and Tariff). GATT was founded in 1948 with 23 nations as the global (international) trade organisation to serve all multilateral trade agreements by giving fair chances to all nations in the international […]

Why do we debit Goodwill account?

The share of profit of old partner (either retired or deceased) is certainly taken by the existing partners for which they have to compensate the old partner. This compensated amount is known as Goodwill. When a new partner is admitted, goodwill of the business is valued again. The value of goodwill is the value associated with […]

Wholesaler vs Distributor: Examples

Who is Wholesaler? A wholesaler is a person who operates as a mediator between the distributor and retailer. These people buy a product in a considerable quantity from the distributor or manufacturer at a cheaper rate, and resell it to the retailers at a higher price to make profits. In supply chain business wholesaler plays […]

Father of Indian Census

Census is the process of collecting details and authentic information about the population growth or the growth of the economy. It also provides information on the mortality and fertility rate, languages as well. It is a way of dispersing information based on the demographic, socio-cultural and economic data after an interval of ten years. Census […]

Working Capital in Accounting

The working capital, also known as net worth capital is the money that a company needs for managing it’s short term expenses. It is calculated as a difference between an organisation’s current assets and its current liabilities. Working capital is a measure of the operational efficiency, liquidity and short-term financial health or solvency of the […]

What is the role of Financial Management?

The Financial Management main role is to plan, organise and govern all the financial activities of a company. It applies management ethics to the financial resources of a company. This practice controls all the economic operations of an enterprise like utilisation of funds, procurement of funds, payment, accounting, risk assessment and everything related to the […]

Selling vs Marketing: Top 8 Differences

In every business today, we often come across the concept of marketing and selling, a number of times. The concept of marketing focuses firstly on the customer’s requirements, and then the means to fulfil that need is identified. In marketing, the customer creates market demand. On the other hand, the concept of selling emphasises only on […]

Consumer Protection Act – Rights and Responsibilities

What is the Consumer Protection Act? The Consumer Protection Act, implemented in 1986, gives easy and fast compensation to consumer grievances. It safeguards and encourages consumers to speak against insufficiency and flaws in goods and services. If traders and manufacturers practice any illegal trade, this act protects their rights as a consumer. The primary motivation […]