Business-to-business transactions require series of document exchanges to ensure commercial and regulatory compliance. These documents reflect the strength of the process, internal controls, and terms of the transactions between the companies. Business purchases are...
The modern-day business dynamic has considerably evolved over the course of time. As a matter of fact, companies today are striving to be more agile in order to survive in a fast-paced environment. In this regard, it is imperative for businesses to ensure that they...
Definition During the normal course of operations, numerous financial transactions are taking place within the company. In this regard, it is often challenging for companies to keep a proper track record of the expenses that they have incurred. As a result, it might...
Definition A transferrable letter of credit can be described as a financial guarantee, that one of the parties, is going to transfer all, or a part of the credit that they have to the other party. Letters of credits are seen as protecting covenants that ensure that...
Definition: During the normal course of the business, there are numerous different transactions that the business carries out. It is essential to ensure that all the transactions are properly recorded and can be retrieved with proper and relative ease. In the same...
Meaning Material refers to the raw material, or the inputs that are required by the company to fulfill the production process. Subsequently, material Control comprises managerial activities that are undertaken by the decision-makers of the company in order to ensure...
