The Foreign Exchange Management Act (FEMA) was a regulation brought by the Indian government in 1991 in order to regulate cross-border Forex Transactions. It replaced the much more stringent Foreign Exchange Regulation Act (FERA) and was aimed at fostering a more liberal economy in India. FEMA details the procedures...
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Access to capital is a major challenge for companies, especially those in the micro, small, and medium enterprises sector. If a company really wants to widen its footprint, the traditional sources of finance like bank loans and lines of credit may not suffice. A business with a good bottom...
The finance function is considered the lifeblood of any business, and for good reason. It helps channelize the monetary resources required to run a business. Even if the core product or service of a business is not related to the financial world, this function plays a crucial role. Its...
The better you know about your finances, the better you get at managing your business. Everyone knows how to calculate profits, but just focusing on it can be deceiving, as profits do not signify profitability. Profit is the amount left after deducting expenses from revenue, and profit margin is...
Financial Analytics has become a great tool to gain an edge over your competition. It involves using the database available with a company and drawing insights. These insights can be related to various aspects like the state of finances (internal) and segment-wise study of sales of product or service...
One of the smartest moves to build a healthy business is managing and improving cash flow. According to Business Insider, approximately 82% of the businesses or startups fail to survive due to the problems in cash flow management. Cash flow has a dramatic impact on the business and problems...
“The more you know about your company, the better decisions you can make.” Budgeting and forecasting are the most important parts of financial planning, regardless of the size of the business. Inaccuracy or inefficiency in this can lead to huge losses or even failure in the business. Here are...
The advancement in technology has made business go global. It is possible, even for small companies, to sell their products and services outside their national borders. Similar to the scale of operations, the nascent-ness of the company does not matter either. This means that a company does not need...
The role of Compliance has evolved over time. Earlier, members of the department were enforcers of rules and regulations. Presently, they seek to cooperate with the different divisions within a company to ensure that both individuals and the broad objectives of the company are protected. Their role used to...
Financial transaction processing is an arduous but important activity for a company. From the outside, people may perceive it to be just undertaking accounting transactions or maintaining and updating financial data. This may make the task seem simplistic. However, financial transaction processing is a key and necessary activity. The...