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Financial Terms

KYC

It helps in preventing fraud and financial crimes such as money laundering. The process involves collecting information about a customer's identity, occupation, and source of income.

KYC, or "Know Your Customer," is a crucial concept in the world of finance. It enables institutions to ensure the legitimacy of their customers and prevent potential financial crimes. By collecting details like identity, occupation, and source of income, KYC helps institutions stay vigilant and protect against fraud and money laundering. In other words, it's a necessary step towards maintaining the integrity and security of the financial industry.

Extended Internal Rate of Return (XIRR)

This method takes into account the time value of money and assumes that the cash flows from an investment are reinvested at the same rate. Let's discuss the concept of Exten...

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Depreciation

A currency's decrease in value, also known as depreciation, can be influenced by various factors such as political turmoil and weakening economic conditions. This results in...

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Vote on Account

As a professor of finance, I would like to introduce you to the concept of Vote on Account. This refers to a pre-approved budget allocation by the Parliament for the outgoin...

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Due Diligence

The process involves analyzing financial statements, verifying transactions, and identifying any discrepancies. This is an essential aspect of finance and a crucial step in m...

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