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What is Cost Audit ? Meaning of Cost Audit  Cost audit is the audit of cost records. Cost audit is the verification of the cost of production of any product, service or activity on the basis of accounts maintained by an enterprise in accordance with the accepted principles of cost accounting. The concept and scope … Read more

What is Financial Audit ? Financial auditing refers to an accounting process applied in business. The process involves using an individual body for evaluating the financial transactions and statements of a business. The ultimate purpose of financial audit is presenting an accurate amount of the business transactions of a company. Besides, it ensures that the … Read more

What is Audit Report ? Meaning of Audit Report An auditor is appointed by the shareholders of a company to audit its accounts and, as such, he makes a report to them about the affairs of the company. An auditor’s report provides an opinion of the validity and reliability of a company or organization’s financial statements. … Read more

What is Goal Congruence ? When an organization’s goal coincides with the personal goal of the manager, it is called goal congruence. Ideally, the system should be so designed that action that it leads people to take in accordance with their perceived self-interest are actions that are also in the best interest of the organization. … Read more

What is Financial Inclusion ? Meaning of Financial Inclusion The Committee on Financial Inclusion has defined financial inclusion as “the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost”. Financial inclusion is delivery of banking … Read more

What is Internal Audit ? Meaning of Internal Audit : The internal audit is a continuous review of operations and records undertaken within the business and is normally done by specially assigned staff. It should operate independently of all the internal check and in no case should divest any one of the responsibilities placed upon … Read more

What is Bank Spread Management ? Meaning of Spread Spread is the difference between the interest rate charged to borrower & the interest rate paid to depositors. It reflects efficiency in financial inter-mediation. Clearly, a high positive spread is desirable, but policy should aim to maintain and stabilize the spread over time. Interest spread is … Read more

What is Management Audit ? Meaning of Management Audit Management Audit is the total examination of transactions of an organization or part of it, and includes checks on the effectiveness of managers, their compliance’s with company or professional standards, the reliability of management data, the quality of performance of duties and recommendations for improvement. Management … Read more

Contents : Meaning of Credit Appraisal. Benefits of Credit Appraisal. Types of Credit. Credit Appraisal Process. What is Credit Appraisal ? Credit appraisal means an investigation/assessment done by the bank prior before providing any loans and advances/project finance and also cheeks the commercial, financial and technical viability of the project proposed its funding pattern and further checks … Read more