Auditing Standards Board – Explained

by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting

What is the Auditing Standards Board?The Auditing Standards Board (ASB) is saddled with the responsibility of communicating audit standards that practitioners are expected to live by. ASB is a senior committee member of the American Institute of Certified Public...

S&P TSX60 Index – Explained

by TheBusinessProfessor | Feb 23, 2025 | Investments, Trading, and Financial Markets

What is the S&P/TSX 60 Index?The S&P/TSX 60 Index is a stock market index that represents leading and reputable stock issuing companies in Canada. It is called the S&P/TSX 60 Index because it symbolizes the 60 large stock companies with the largest market...

SA 8000 Certification – Explained

by TheBusinessProfessor | Feb 23, 2025 | Business Ethics & Social Responsibility

What is SA8000 Certification?SA8000 Certification is an attestation issued to a company having met the criteria and standards of SA8000. SA8000 was established in 1989 by a coalition of corporate organizations. It is an international workplace-quality standard or an...

Auditor’s Report – Explained

by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting

What is an Auditor’s Report?An auditors report refers to a written letter by an auditor/accountant after conducting an accounting audit process that opines whether a company’s financial statements as presented comply with the generally accepted accounting...

Amortization Table (Loan) – Explained

by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry

Update Table of Contents What is a Loan Amortization Table or Schedule?How is an Amortization Table Used? What is a Loan Amortization Table or Schedule?An amortization table is defined as a document that shows you how much you are paying each month on a loan. An...

Amortized Costs (Financial Assets) – Explained

by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting

What is an Amortized Cost?Amortized cost is that accumulated portion of the recorded cost of a fixed asset that has been charged as an expense (through either depreciation or amortization). Financial assets must be reported on a balance sheet at their amortized value...

Securitization – Explained

by TheBusinessProfessor | Feb 23, 2025 | Investments, Trading, and Financial Markets

What is Securitization?Securitization is a financial procedure that involves the distribution of default risk by an issuer who groups or merges financial assets such as mortgages into a pool and then sells the cash flows backed by this pool. Securitization is...

Six Sigma – Explained

by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management

What is Six Sigma?Six Sigma (often abbreviated as 6) is a statistical-based quality-control program that emphasizes the reduction or elimination of defects in a product, a process, or a service through the application of certain process-improvement techniques and...

Secondary Market – Explained

by TheBusinessProfessor | Feb 23, 2025 | Investments, Trading, and Financial Markets

What is a Secondary Market?A secondary market (also known as the aftermarket) is a type of financial market that facilitates the sale and purchase of previously-issued securities by investors. These securities are typically shares, bonds, investment notes, futures and...

Self-Employment Tax – Explained

by TheBusinessProfessor | Feb 23, 2025 | Business Taxation

What is Self-Employment Tax?Self-employment tax is a type of tax payable by individuals such as small business owners who work for themselves. It consists of Social Security and Medicare taxes that the federal government deducts from income of such individuals. Any...