A contingent liability may be defined as a possible obligation that arises from past events and depends on the outcome of an uncertain future event. CONTINGENT LIABILITIES are those liabilities which may arise when certain claims are settled in the near future. So anything that is under litigation or liability is not ascertained as to…
Reconciliation is a financial process that compares internal financial statements with external sources to identify discrepancies and maintain financial reliability. Reconciliation is a financial process that compares transactions and activity to supporting documentation and resolving any discrepancies that may have been discovered. Inter-office adjustments are differences that may occur due to incomplete recording of transactions…
The Government of Himachal Pradesh order No.GAD-A (F)10-7/2023 dated 18.10.2024 declared the following days as Gazetted holidays for the year 2025 Sr.No Date Day Occasion/Festival Date 1 25.01.2025 Saturday STATEHOOD DAY 2 26.01.2025 Sunday REPUBLIC DAY 3 12.02.2025 Wednesday GURU RAVIDAS JAYANTI 4 26.02.2025 Wednesday MAHASHIVARATRI 5 14.03.2025 Friday HOLI 6 31.03.2025 Monday ID-UL-FITR /RAMZAN…
The back office in an organisation exists to finalise the transactions conducted by the front office. This includes confirming transactions and settlement instructions with the back office of the counterparty. The back office is essential for maintaining the integrity of the financial system and ensuring the accurate processing of customer transactions. The back office is…