Limited Partnership
A business structure with at least one general partner who manages the business and assumes full liability, and one or more limited partners who invest but have no management role and limited liability. It’s commonly used in investment ventures and real estate.
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Liquidity Ratio
A liquidity ratio evaluates a company’s ability to meet short-term obligations using its current assets. Common examples include the current…
Letter of Engagement
A letter of engagement outlines the scope, terms, and responsibilities of an accounting or auditing engagement between a firm and…
Lease Accounting
Lease accounting records the financial impact of lease agreements. Under modern standards (like IFRS 16), lessees must recognise leased assets…
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