Accounting and Finance Questions

It is a process that recaculates the amount to pay an employess in the current period to account for retrospective changes that occurred in previous payroll periods.

6 months after graduating or quitting school when you have to start paying back the loans.

A grace period is one term that’s provided for student loans that allow you to delay payments up to a certain length of time, without penalty. During a grace period no late charges would apply, and the loan would not risk falling into default for missed payments. The grace period allows you time to find financial stability prior to having to make payments on your student loans.

Many students use student loans to help pay for their college expenses, including tuition, books, room and board, and other living expenses. Students are expected to repay these loans when they graduate.

A savings account is the most basic type of account at a bank or credit union, allowing you to deposit money, keep the funds safe, and withdraw funds as needed. Savings accounts typically pay interest on your deposits, which helps you grow your money, but rates are relatively low on these low-risk accounts.

A checking account is a deposit account held at a financial institution that allows withdrawals and deposits. Also called demand accounts or transactional accounts, checking accounts are very liquid and can be accessed using checks, automated teller machines and electronic debits, among other methods.

Hence, Saving accounts usually offer higher interest rates than checking accounts.

Debenture holder are those who provides long term loan at specific interest rate in term of cash and creditor provides only short term credit in term of cash for purchasing of goods.

Payroll systems accurately maintain data related to payroll processing. Familiarity with formal payroll systems and computerized software ensure the candidate has experience with current payroll technology.

Money market instruments are debt securities that generally give the owner the unconditional right to receive a stated, fixed sum of money on a specified date.

There are several money market instruments in most Western countries, including treasury bills, commercial paper, bankers' acceptances, deposits, certificates of deposit, bills of exchange, repurchase agreements, federal funds, and short-lived mortgage- and asset-backed securities.

Bank Rate is the interest rate at which the RBI allows finance to commercial banks. By Bank Rate, we mean bank can regulate the level of economic activity.

A deposit in transit is cash (currency, coins, checks, electronic transfers) that a company has received and is rightfully reported as Cash on its balance sheet, but does not appear on the bank statement until a later date.