What Are Corporate Bylaws? Corporate Bylaws, usually called bylaws, are a legal document. It’s core to set up rules and regulations which govern the corporation’s day-to-day operations. Purpose of Bylaws in a Corp To be an efficient company, one does need such a doc, meaning that all described procedures will be followed by management. As a result, it runs effectively. What It Typically Includes There is no unique requirement or approach for the content of one. Typically, req

What Is a Payment Settlement? A payment settlement is the final step in a transaction, where the money officially moves from the customer's bank to the business's bank. The phrase settlements payments refers directly to these fund transfers. The Payment Settlement Process Step-by-Step Authorization of a transaction Payment settlement process begins with authorization of a transaction. When you buy something, the machine (POS) sends a request with the sale details. This reques

Definition and Meaning PEP is an abbreviation from the English language: PEP stands for Politically Exposed Person, that is, a “politically significant person.” This PEP acronym business is widely used in financial compliance to refer to high-risk clients. Politically exposed person (PEP) definition and examples Politically Exposed Person—is a person who holds or has held a prominent public position. For example, PEPs include presidents, prime ministers, ministers, deputies a

What Is a Business License? Business license definition So, what is a business license? Simply put, it’s a government-issued authorization that allows a company to legally operate within a specific jurisdiction or industry. Without it, even a properly registered business could face fines or closure. Why every company needs a business license A business license confirms that your company complies with local rules, pays taxes, and meets safety or professional standards. It’s al

What Are Liquidity Ratios? Liquidity ratio definition in accounting Accounting liquidity ratios show how easily companies can pay their short-term bills. It measures how quickly assets like cash, receivables, or inventory can be turned into cash. Common examples are the current ratio and quick ratio. These ratios help see if a company has enough liquid assets to cover short-term debts and check its financial strength over time or compared to other companies. Importance of liq