Explore topic-wise InterviewSolutions in Accounts and Finance.

INFO: Full form for IBLC is In Bond Landed Cost in Accounts and Finance category
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INFO: Full form for AARF is Australian Accounting Research Foundation in Accounts and Finance category
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INFO: Full form for NIFA is Network of Independent Forensic Accountants in Accounts and Finance category
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INFO: Full form for AIRA is Allocated Insurance Reserve Account in Accounts and Finance category
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INFO: Full form for IAPS is International Auditing Practice Statement in Accounts and Finance category
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INFO: Full form for IAPP is Independent Auditing Practice Pronouncement (china) in Accounts and Finance category
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The National Association of State Boards of Accountancy (NASBA) is an association dedicated to serving the 56 state boards of accountancy. These are the boards that regulate the accountancy profession in the United States of America.

There is one board for each of the 50 states, plus the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, Northern Mariana Islands, and American Samoa.

INFO: Full form for PREC is Personal Real Estate Corporation in Accounts and Finance category
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INFO: Full form for ISBP is International Standard Banking Practice in Accounts and Finance category
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The Institute of Singapore Chartered Accountants (ISCA), formerly the Institute of Certified Public Accountants of Singapore, is the national professional body for accountants in Singapore. It sets out to develop, support and enhance the integrity, status and interests of the accountancy profession in Singapore.

The Chartered Governance Institute (previously known as The Institute of Chartered Secretaries and Administrators, ICSA) has divisions in Australia, Canada, Hong Kong/China, Malaysia, New Zealand, Singapore, Southern Africa, the United Kingdom and Zimbabwe.

The division based in London, is known as The Chartered Governance Institute UK & Ireland. It represents and supports members in the United Kingdom, Republic of Ireland, Crown Dependencies and associated territories, which include the Caribbean, sub-Saharan Africa, the Middle East, Mauritius and Sri Lanka. The Chief Executive is Sara Drake. It has 32 branches and special interest groups, including the Chartered Secretaries Professional Practice Group, the Association of Women Chartered Secretaries and the CGI Registrars Group, and affiliations with organisations like the Worshipful Company of Chartered Secretaries and Administrators. The Chartered Governance Institute is a member of the CBI, ECoDA, the Professional Associations Research Network (PARN) and a founder member of The Next Generation NED Network.

The Chartered Governance Institute is the qualifying and membership body for governance professionals and, both globally and through the divisions, provides professional development, guidance and thought leadership, and works with regulators and policy makers to champion high standards of governance across all sectors.

INFO: Full form for FIPA is Fellow of The Insolvency Practitioners Association in Accounts and Finance category
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INFO: Full form for CISA is Certified Information Systems Auditor (us) in Accounts and Finance category
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INFO: Full form for CRCE is Canadian Renewable and Conservation Expense in Accounts and Finance category
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INFO: Full form for CPRP is Cost Per Rating Point in Accounts and Finance category
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INFO: Full form for NSR is Net Sales Realization in Accounts and Finance category
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INFO: Full form for FACT is Fair and Accurate Credit Transactions in Accounts and Finance category
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INFO: Full form for EPOS is Electronic Point of Sale in Accounts and Finance category
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INFO: Full form for RAPS is Reimbursement Account Processing System in Accounts and Finance category
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INFO: Full form for BREF is Business Real Estate Finance in Accounts and Finance category
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INFO: Full form for CFCU is Central Finance and Contracting Unit in Accounts and Finance category
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INFO: Full form for IBFC is Income Before Fixed Charges in Accounts and Finance category
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INFO: Full form for NASDA is National Association of Specialist Dental Accountants in Accounts and Finance category
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INFO: Full form for MDR is Merchant Discount Rate in Accounts and Finance category
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INFO: Full form for AIMS is Account Information Management System in Accounts and Finance category
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INFO: Full form for AIMS is Advanced Invoice Management System in Accounts and Finance category
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INFO: Full form for AGM is Adjusted Gross Margin in Accounts and Finance category
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INFO: Full form for ACMI is Associate of The Chartered Management Institute in Accounts and Finance category
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INFO: Full form for SLAM is Super Low Administrative Mortgage in Accounts and Finance category
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INFO: Full form for APM is Accounts Payable Maintenance in Accounts and Finance category
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INFO: Full form for TMA is Tax On Management Account in Accounts and Finance category
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INFO: Full form for RMD is Required Minimum Distribution in Accounts and Finance category
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Gross rent multiplier (GRM) is the ratio of the price of a real estate investment to its annual rental income before accounting for expenses such as property taxes, insurance, and utilities; GRM is the number of years the property would take to pay for itself in gross received rent. For a prospective real estate investor, a lower GRM represents a better opportunity.

The GRM is useful for comparing and selecting investment properties where depreciation effects, periodic costs (such as property taxes and insurance) and costs to the investor incurred by a potential renter (such as utilities and repairs) can be expected to be uniform across the properties (either as uniform values or uniform fractions of the gross rental income) or insignificant in comparison to gross rental income. As these costs are also often more difficult to predict than market rental return, the GRM serves as an alternative to a measure of net investment return where such a measure would be difficult to determine.

Example: $200,000 Sale Price / (750 per month rent * 12 months) = 22.22

Today, it is quite common for GRM to be quoted by real estate professionals using annual rents rather than monthly rents. A 100 GRM (monthly rents) = 8.33 GRM (annual rents). An 8.33 GRM calculated on annual rents suggests the gross rent will pay for the property in 8.33 years.

The common measure of rental real estate value based on net return rather than gross rental income is the capitalization rate (or cap rate). In contrast to the GRM, the cap rate is not a multiplier but a rate of annual return. A similar multiplier to the GRM derived from net return would be the multiplicative inverse of the cap rate.

INFO: Full form for CEM is Cost Effective Measurement in Accounts and Finance category
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Open-book management (OBM) is a management phrase coined by John Case of Inc. magazine, who began using the term in 1993. The concept's most visible success has been achieved by Jack Stack and his team at SRC Holdings.

The basis of open-book management is that the information received by employees should not only help them do their jobs effectively but help them understand how the company is doing as a whole. According to Case, "a company performs best when its people see themselves as partners in the business rather than as hired hands" (Case,1998 as cited in Pascarella, 1998). The technique is to give employees all relevant financial information about the company so they can make better decisions as workers. This information includes, but is not limited to, revenue, profit, cost of goods, cash flow and expenses.

Stack and Case conceptualize open-book principles in similar ways.

Stack uses three basic principles in his management practice called, The Great Game of Business. His basic rules for open-book management are:

Similarly, in 1995, Case made sense of open-book with three main points:

In a company fully employing open-book management employees at all levels are very knowledgeable about how their job fits into the financial plan for the company. However taking a company from "normal" to open is not as easy as just sharing financial statements with employees. Open-book management is considered to be a success when companies allow improvements on their financial numbers to come from the bottom tier of employee rather than pressure exerted by a traditional top-down management system. (Johnson, 1992 as cited in Aggarwal & Simkins, 2001). While employees need to be trained to understand income statements and balance sheets; open-book management aims to achieve a level of understanding of company finances between all employees to the degree that they are able to report predictions to upper management. In order to motivate employees to strive for change, open-book management focuses on a "Critical Number". The number is different for every company but it is a number that represents a prime indicator of profitability or break-even point. Discovering this Critical Number is a key component of creating an open-book company. Once this is discovered, a "Scoreboard" is developed that brings together all the numbers needed to calculate the critical number. The Scoreboard is open for all to see and meetings take place to discuss how individuals can influence the direction of the "Score" and therefore, ultimately, the performance against the Critical Number. Finally a Stake in the Outcome is provided which can be a bonus plan that is tied to Critical Number performance or it can include Equity sharing or both.