What is portfolio transfer?

The transfer of insurance contracts between insurance companies, insurance brokers or similar is known as portfolio transfer. In this way, the different insurance companies insure the risk they incur with their users while redirecting them to one company or another depending on their specialization. Among the data that are transferred are: the personal data of … Read more

What is a deferred asset?

Despite being classified as an asset, the concept of deferred asset refers to expenses already paid but not yet used. The main objective of all this is not to alter the financial accounts of the companies in the periods in which those disbursements classified as expenses have not been used. At any time a company … Read more

What is a proxy?

The definition of proxy is the person who has the powers of another individual to act on their behalf. The attorney-in-fact represents the other and acts on his behalf. In the legal field, the seizure process takes place through a document known as power of attorney, which is a unilateral manifestation of the subject who … Read more

What is an advisory?

The concept of counseling has many names, depending on the area in which we find ourselves or how we want to use it. Specifically, a consultancy is the support through advice to another person on the performance of one or more activities of which they do not know with certainty how to do it. The … Read more

What is appraisal?

The concept of appraisal, also known as a valuation report, is the document signed by a competent professional whose objective is to justifiably establish the value of an asset according to previously established criteria and developing an appropriate methodology. In the field of finance, the definition of appraisal refers to the process from which the … Read more

What is appreciation?

With regard to economic terms, the word appreciation is widely used not only in the field of administration but is also frequently used in contexts such as: business management, business and finance. The term refers mainly to the increase in the value of an object or a specific company. The increase in value will depend … Read more

What is internal accounting?

Internal accounting is one of two types of accounting existing from the point of view of economic circulation. Based on this point of view we can divide accounting into internal or external. Internal accounting is responsible for analyzing and interpreting the economic data of what happens within the company. Its main function is to evaluate … Read more

What is aggregate demand?

The definition of aggregate demand is the sum of the expenditure on goods and services that companies and the State are willing to buy at a given price level in a specific period of time. On some occasions, the concept of aggregate demand is used as a synonym for Gross Domestic Product (GDP), by measuring … Read more

Definition of liquid asset

Generally, liquid assets are defined as those that can be converted into cash in the short term without losing value and that being goods without delay, they can be transformed into cash. At an economic level, the liquid asset is the one that can be converted or exchanged for money quickly or not lose value … Read more

What is the average payment period?

The average payment period is very easily defined. These are the days it takes a company to pay its suppliers. It is a task that must be taken into account in a company, since this ratio expressed in days is very important to know and control it from the financial sector of a company. The … Read more