B

Billing is the process of preparing and issuing invoices to customers for goods sold or services provided. It includes determining the amount due, applicable...

Benchmarking is the process of comparing a company’s financial or operational performance against industry standards, competitors, or best practices. It helps identify areas where...

A bank statement is a report issued by the bank showing all account transactions over a specific period, including deposits, withdrawals, charges, and balances....

Bank reconciliation is the process of comparing the balance as per the company’s cash book with the balance shown in the bank statement. The...

A bank overdraft is a facility that allows a business to withdraw more money from its bank account than the available balance, up to...

A bank loan is money borrowed from a bank that must be repaid over time, usually with interest. It may be short-term or long-term...

A bank guarantee is a commitment by a bank that it will cover a financial obligation if the customer fails to do so. It...

A bank draft is a secure payment instrument issued by a bank on behalf of a customer, directing payment to a named recipient. Since...

A balance sheet is a financial statement that shows a company’s financial position at a specific point in time. It lists assets, liabilities, and...

The balance of payments is a record of all economic transactions between a country and the rest of the world over a period. It...

Bad debt refers to an amount owed by a customer that is considered unrecoverable. This usually happens when a customer is unable or unwilling...

Bad debt expense is the cost recognized when a business believes that some receivables may not be collected from customers. It is recorded in...