Also known as the forex market, the foreign exchange market is where currencies of different countries are bought and sold. This article outlines the functions of the foreign exchange market. In order for the forex market to function there needs to be demand for and supply of foreign currency. The foreign exchange market is comprised …
This article outlines the functions of the capital market. A capital market is comprised of the debt and the equity market. It is the market where long term financial instruments are traded. These instruments include bonds, debentures, ordinary (equity) shares and preference shares. The term of these instruments is one year or longer whilst some …
It is important to understand the objectives of cost accounting. Cost accounting is a part of management accounting that is concerned with the identification, accumulation, classification and appropriation of cost data in a business to help management with information that is useful for price determination, budgeting, financial control and decision making among other things. Cost …
This article outlines the objectives of auditing. Audit and assurance is an arm of accounting that is primarily with verifying the correctness of information provided in financial statements and within an organisation. It is split into two main functions which are internal audit (control) and external audit. Internal audit is primarily concerned with making sure …
