Month: October 2022

What is Internal Control System?  The internal control structure of a company consists of the policies and procedures established to provide reasonable assurance that specific entity objectives will be achieved. Objectives of Internal Control System To ensure that the business Read More …

Definition of Cheque  A cheque is a type of bill of exchange, used for the purpose of making payment to any person. It is an unconditional order, addressing the drawee to make payment on behalf the drawer, a certain sum Read More …

Different types of bank accounts serve different needs. Depending on your goals, it’s wise to put money into the best account and use the right tools for spending and saving. Doing so allows you to maximize the return from your Read More …

The Central Bank is the banker for the government, encompassing the national government, government ministries, departments & agencies (MDA’S) and county governments. These institutions hold a variety of accounts with the Central Bank, depending on their needs, which allow them Read More …

What is a money transfer? A money transfer is when you transfer money from your credit card and pay it into your bank or building society account. It will form part of your credit card balance and is subject to Read More …

What Is a Lender? Lenders are businesses or financial institutions that lend money, with the expectation that it will be paid back. The lender is paid interest on the loan as a cost of the loan. The higher the risk Read More …