Balance of Payments: The balance of payments (BoP) records the undertakings or transactions of commodities, assets and services between citizens of a nation.
The current account balance of payment is one of the two main parts of thebalance of payments accounts. It records the transactions that relate to the import and export of goods and services across the borders of the nation over a specific period of time. The transactions are usually with mu...
The above equation means that the sum of all the components of the Balance of Payments should be equal to zero. The Current Account usually has the maximum transactions. And to match and keep the statement in balance, the total of capital and Financial Account should match with the balance o...
Balance of Payments is made up of 3 components. It helps the Government to analyse a particular industry and formulate policies accordingly. For UPSC 2024 prep, visit BYJU'S website
The Fabrikam controller can assist members of the organization in detecting and resolving issues related to the procurement, reception, and payment for goods and services from suppliers. The bookkeeper for the Malaysia division can enforce corporate policy and make sure ...
A capital account is one of three key balance of payment accounts. The other two are the current account and financial account. The balance of payments tracks all transactions between the country and the rest of the world. Note that prior to 2000, the capital account was made up of both ...
Accounts receivable is money owed to a business by its customers presented as an asset on a company's balance sheet. For example, an electric company that bills customers for electricity after the customer already received it would record an account receivable until the customer...
been shipped (sales revenue). This means that if the Orion Computer Repair Company sends out 20 fixed computers and invoices to the customers for each computer, the company would account for the money as revenue even though it has not yet received payment under the accrual method...
What Are the 3 Balance of Payments? The maincategories of the balance of paymentare the current account, the capital account, and the financial account. How Is the Current Account Balance Calculated? The current account is calculated by finding the balance of trade and adding it to net earning...
The financial services sector is comprised of banking, mortgages, credit cards, payment services, tax preparation and planning, accounting, and investing. Financial services are often limited to the activity of firms and professionals, while financial products are the financial instruments these profession...