Category: Banking

Basic Accounting Terms

Basic Accounting Terms

List of Basic Accounting Terms A Accounting – process of recording, analysis and reporting monetary transactions Accounting Concepts – Basic principles upon which accounting is based Accounts payable – Amount payable by business entity to various parties from whom good or services have been purchased. Account receivable – Amount due to business entity to whom goods or services have […]

Things to Know About Payment Systems

Payment Systems for Banking Definition: According to Bank of International Settlement (BIS), a payment system consists of instruments, banking procedure and typically inter-bank funds transfer that ensures and facilitates the circulation of money. A payment system is any system used to settle financial transactions through the transfer of monetary value and includes the institutions, instruments, people, […]

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