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Universal Product Code. Composition[edit] Each UPC-A barcode consists of a scannable strip of black bars and white spaces, above a sequence of 12 numerical digits.

Universal Product Code

No letters, characters, or other content of any kind may appear on a standard UPC-A barcode. The digits and bars maintain a one-to-one correspondence - in other words, there is only one way to represent each 12-digit number visually, and there is only one way to represent each visual barcode numerically. Sort code. A sort code is the name given by both the British and Irish banking industry to the bank codes which are used to route money transfers between banks within their respective countries via their respective clearance organisations.

Sort code

In Ireland it is known as the NSC or National Sort Code[1] and is regulated by IPSO (Irish Payment Services Organisation).[2] Although sort codes in both countries have the same format, they are regulated by different authorities as each country has its own banking system.[3][4] The sort code, which is a six-digit number, is usually formatted as three pairs of numbers, for example 12-34-56. ISO 9362. ISO 9362 (also known as SWIFT-BIC, BIC code, SWIFT ID or SWIFT code) defines a standard format of Business Identifier Codes approved by the International Organization for Standardization (ISO).

ISO 9362

It is a unique identification code for both financial and non-financial institutions.[1] The acronym SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication. When assigned to a non-financial institution, the code may also be known as a Business Entity Identifier or BEI. These codes are used when transferring money between banks, particularly for international wire transfers, and also for the exchange of other messages between banks.

International Bank Account Number. A typical British bank statement header showing the location of the account's IBAN.

International Bank Account Number

Note - The Wessex Bank is a fictitious bank, but the layout is based on the layout of a real British bank. The International Bank Account Number (IBAN) is an internationally agreed means of identifying bank accounts across national borders with a reduced risk of transcription errors. It was originally adopted by the European Committee for Banking Standards (ECBS), and later as an international standard under ISO 13616:1997. The current standard is ISO 13616:2007, which indicates SWIFT as the formal registrar.

Initially developed to facilitate payments within the European Union, it has been implemented by most European countries and many countries in the developing world, especially in the Middle East and in the Caribbean. Background[edit] Before IBAN, differing national standards for bank account identification (i.e. bank, branch, routing codes, and account number) were confusing for some users. 1. 2. 3. Blank Invoice Template. Cash flow. Cash flow is the movement of money into or out of a business, project, or financial product.

Cash flow

It is usually measured during a specified, limited period of time. Measurement of cash flow can be used for calculating other parameters that give information on a company's value and situation. Cash flow can be used, for example, for calculating parameters: it discloses cash movements over the period. to determine a project's rate of return or value. The time of cash flows into and out of projects are used as inputs in financial models such as internal rate of return and net present determine problems with a business's liquidity. Accountancy. Accounting, or accountancy, is the measurement, processing and communication of financial information about economic entities.[1][2] Accounting, which has been called the "language of business",[3] measures the results of an organization's economic activities and conveys this information to a variety of users including investors, creditors, management, and regulators.[4] Practitioners of accounting are known as accountants.


The terms accounting and financial reporting are often used as synonyms. Etymology[edit] Both the words accounting and accountancy were in use in Great Britain by the mid-1800s, and are derived from the words accompting and accountantship used in the 18th century.[12] In Middle English (used roughly between the 12th and the late 15th century) the verb "to account" had the form accounten, which was derived from the Old French word aconter,[13] which is in turn related to the Vulgar Latin word computare, meaning "to reckon".

Financial accountancy. Financial accountancy is governed by both local and international accounting standards.

Financial accountancy

Generally Accepted Accounting Principles (GAAP) is the standard framework of guidelines for financial accounting used in any given jurisdiction. It includes the standards, conventions and rules that accountants follow in recording and summarising and in the preparation of financial statements. Cost accounting. Cost accounting is a process of collecting, analyzing, summarizing and evaluating various alternative courses of action.

Cost accounting

Its goal is to advise the management on the most appropriate course of action based on the cost efficiency and capability. Cost accounting provides the detailed cost information that management needs to control current operations and plan for the future.[1] Since managers are making decisions only for their own organization, there is no need for the information to be comparable to similar information from other organizations. Instead, information must be relevant for a particular environment. Cost accounting information is commonly used in financial accounting information, but its primary function is for use by managers to facilitate making decisions.

Tax accounting in the United States. U.S. tax accounting refers to accounting for tax purposes in the United States.

Tax accounting in the United States

Unlike most countries, the United States has a comprehensive set of accounting principles for tax purposes, prescribed by tax law, which are separate and distinct from Generally Accepted Accounting Principles. Basic rules[edit] Savings account. A passbook, the traditional record of savings account transactions Saving accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money in the narrow sense of a medium of exchange (for example, by writing a cheque).

Savings account

These accounts let customers set aside a portion of their liquid assets while earning a monetary return. For the bank, money in a savings account may not be callable immediately and in some jurisdictions, does not incur a reserve requirement, freeing up cash from the bank's vault to be lent out with interest. Individual Savings Account. An Individual Savings Account (ISA; /ˈaɪsə/) is a class of retail investment arrangements available to residents of the United Kingdom. It qualifies for a favourable tax status. Payments into the account are made from after tax income. The account is exempt from income tax and capital gains tax on the investment returns, and no tax is payable on money withdrawn from the scheme either. Cash and a broad range of investments can be held within the arrangement, and there is no restriction on when or how much money can be withdrawn. Funds cannot be used as security for a loan. Origins[edit] ISAs were introduced on 6 April 1999, replacing the earlier Personal Equity Plans (PEPs; very similar to a Stocks and Shares ISA) and Tax-Exempt Special Savings Accounts (TESSAs; very similar to a Cash ISA).

With a few exceptions, such as from an employee share ownership plan, all investor contributions must be in cash. There are two broad types of ISA, cash or stocks and shares. Transactional account. A transactional account, known as a current account (British English) or checking account (American English), is a deposit account held at a bank or other financial institution, for the purpose of securely and quickly providing frequent access to funds on demand, through a variety of different channels. Transactional accounts are meant neither for the purpose of earning interest nor for the purpose of savings, but for convenience of the business or personal client; hence they tend not to bear interest.

Instead, a customer can deposit or withdraw any amount of money any number of times, subject to availability of funds. Personal account. Online banking. Online banking (or Internet banking or E-banking) allows customers of a financial institution to conduct financial transactions on a secured website operated by the institution, which can be a retail bank,virtual bank, credit union or building society. To access a financial institution's online banking facility, a customer having personal Internet access must register with the institution for the service, and set up some password (under various names) for customer verification. The password for online banking is normally not the same as for [telephone banking].

Financial institutions now routinely allocate customers numbers (also under various names), whether or not customers intend to access their online banking facility. Customers numbers are normally not the same as account numbers, because number of accounts can be linked to the one customer number. Features[edit] The common features fall broadly into several categories History[edit] Today, many banks are internet only banks. Online banking.