Fund Accounting
Fund accounting is an accounting system used mainly by non-profits and government entities to track resources based on their intended purpose. Instead of focusing on profitability, it emphasises accountability. Each fund is treated as a separate entity with its own records, ensuring restricted funds are used correctly.
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Functional Currency
Functional currency is the primary currency in which a business conducts its main economic activities. It reflects the environment where…
Fringe Benefits
Fringe benefits are non-wage compensations provided to employees, such as health insurance, bonuses, company vehicles, or retirement contributions. From an…
Financial Risk
Financial risk is the possibility of losing money due to factors like debt obligations, market fluctuations, interest rate changes, or…
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