Finance

IFRS - International Financial Reporting StandardsInternational Financial Reporting Standards is a set of financial standards that allow companies and organizations to develop financial reports that can be understood by people of different countries. These standards have been developed by the International Accounting Standards Board (IASB), a not-for-profit organization … [Read more...] about What is the full form of IFRS ?

IOU - I Owe yoU"I Owe You" is usually an informal signed document that shows the debt owed. The document is usually signed by the borrower and given to a creditor, as an acknowledgement. An IOU document is kind of uncomplicated document as it does not have any detail regarding the terms and condition on which the debt has to be repaid. This non-negotiable debt instrument could … [Read more...] about What is the full form of IOU ?

BPS - Business Process ServicesIn TCS, Business Process Services is all about managing and carrying out business operations, by partnering with its customers and generates business value using different models. Tata Consultancy Services (TCS) is one of the largest BPS providers with the annual BPS revenues of greater than US$ 1.6 billion. … [Read more...] about What is the Full Form of BPS in TCS ?

BPs - Basis Points1 basis point equals 1/100th of 1%, i.e. 0.01%, 10 basis points equals 0.1% and 100 basis points equals 1%. So, if we say that RBI has reduced the repo rate by 25 basis points, this means - earlier, if the repo rate was 6.75% - it has been reduced by 0.25%. So, the new repo rate will be 6.5%. BPs usually affects the interest rates and fixed income products … [Read more...] about What is the Full Form of BPS in Banking ?

TA - Travelling Allowance DA - Dearness AllowanceThe Travelling Allowance is the amount of money paid to an employee who went on a trip or a tour for company's benefit. Some organizations pay a flat amount of TA that gets added in the monthly salary. Others require you to show the bills of air ticket, hotel room bills, food expenses etc. and reimburses that amount with your … [Read more...] about What is the Full Form of TA and DA ?