Now new year 2010 is going to start and 2009 is going to end pray from God to forgive all those mistakes which we have done in 2009 and save us from all types of sins and mistakes.
From your friends kindly apologies your friends to whom you you heart.
And also forgive me if I heart any one of you through any activity.
Thursday, December 31, 2009
Verbal contract
An agreement that is oral and not written down. It remains legally enforceable by the parties who have agreed to it
Venture management
The collaboration of various sections within an organization to encourage entrepreneurial spirit, increase innovation, and produce successful new products more quickly
Venture funding
The round of funding for a new company that follows seed funding provided by venture capitalists
Tuesday, December 29, 2009
Venture capital
Money used to finance new companies or projects, especially those with high earning potential and high risk.
Variance
The square of a standard deviation; a measure of the difference between actual performance and forecast, or standard, performance.
Variable interest rate
An interest rate that changes, usually in relation to a standard index, during the period of the loan
Variable annuity
An annuity whose payments depend either on the success of investments that underlie it, or on the value of the index
Value-added tax
A tax added at each stage in the manufacture of a product. It acts as a replacement for a sales tax in almost every industrialized country outside North America.
Value added
Originally, the difference between the cost of bought-in materials and the eventual selling price of the finished product
Unit of trade
The smallest amount that can be bought or sold of a share of stock, or a contract included in an option
Underwriter
A person or organization that buys an issue from a corporation and sells it to investors
Undervalued
Used to describe an asset that is available for purchase at a price lower than it is worth.
Uncertainty analysis
A study designed to assess the extent to which the variability in an outcome variable is caused by uncertainty at the time of estimating the input parameters of the study.
Unbundling
Dividing a company into separate constituent companies, often to sell all or some of them after a takeover.
Turnkey contract
Immediately an agreement in which a contractor designs, constructs, and manages a project until it is ready to be handed over to the client and operation can begin he conditions concerning payment for a purchase
Trademark
An identifiable mark on a product that may be a symbol, words, or both, that connects the product to the trader or producer of that product.
Trade-fair
A commercial exhibition designed to bring together buyers and sellers from a particular market sector.
Think tank
An organization or group of experts researching and advising on issues of society, science, technology, industry, or business.
Test marketing
The use of a small-scale version of a marketing plan, usually in a restricted area or with a small group, to test marketing strategy for a new product.
Terms of trade
A ratio to determine whether the conditions under which a country conducts its trade are favorable or unfavorable
Tender
To make or submit a bid to undertake work or supply goods at a stated price. A tender is usually submitted in response to an invitation to bid for a work contract in competition with other suppliers.
Telephone survey
A research technique in which members of the public are asked a series of questions on the telephone
Telecommute
To work without leaving your home by using telephone lines to carry data between your home and your employer's place of business.
Tax return
An official form on which a company or individual enters details of income and expenses, used to assess tax liability.
Tax refund
An amount that a government gives back to a taxpayer who has paid more taxes than were due.
Tax incentive
A tax reduction afforded to people for particular purposes, for example, sending their children to college
Target marketing
Selecting and developing a number of offerings to meet the needs of a number of specific market segments.
Target market
The specific individuals distinguished by socio-economic, demographic and interest characteristics, who are the most like¬ly potential customers for the goods and services of a business.
Monday, December 28, 2009
Sales representative
A salesperson selling the products or services of a particular organization or manufacturer. Sales representatives are sometimes employed directly by a company as part of the sales force or they may work independently and be employed by contract. Sales reps often represent more than one product line from more than one company and usually work on commission.
Random sampling
An unbiased sampling technique in which every member of the population has an equal chance of being included in the sample. Based on probability theory, random sampling is the process of selecting and canvassing a representative group of individuals from a particular population in order to identify the attributes or attitudes of the population as a whole.
Pro-forma
A projection or estimate of what may result in the future from actions in the present. A pro forma financial statement is one that shows how the actual operations of the business will turn out if certain assumptions are achieved.; a document issued before all relevant details are known, usually followed by a final version.
Receivable
Ready for payment. When you sell on credit, you keep an "accounts receivable" ledger as a record of what is owed to you and who owes it. In accounting, a receivable is an asset.
Service
Any activity or benefit that one party can offer to another that is essentially intangiable and does not result in ownership of anything
(Kotler & Armstrong)
Take-home pay
The amount of pay an employee receives after all the deductions, such as income tax, social security, or pension, contributions.
Suppliers
Individuals or businesses that provide resources needed by a company in order to produce goods and services.
Stock
An ownership share in a corporation; another name for a share. Another definition would be accumulated merchandise.
Sole proprietorship
Definition 2:
A business structure in which an individual his/her company are considered a single entity for tax and liability purposes. A sole proprietorship is a company which is not registered with the state as a limited liability company or corporation. The owner does not pay income tax separately for the company, but he/she reports business income or losses on his/her individual income tax return. The owner is inseparable from the sole proprietorship, so he/she is liable for any business debt and also called proprietorship.
On the positive side, a sole proprietorship is the easiest form of business to set up. If you operate your business under your own name, with no additions, you don't even need to register your business name to start operating as a sole proprietor
Share
One of the equal parts into which the ownership of a corporation is divided. A "share" represents part ownership in a corporation.
Setup costs
The costs associated with making a workstation or equipment available for use.
Definition 2:
Expenses incurred in setting up a machine, work center, or assembly line, to switch from one production job to the next.
Definition 3:
Costs associated with establishing a new manufacturing procedure. Setup costs include design costs, acquisition and location of machinery, and employee hiring and training.
Definition 2:
Expenses incurred in setting up a machine, work center, or assembly line, to switch from one production job to the next.
Definition 3:
Costs associated with establishing a new manufacturing procedure. Setup costs include design costs, acquisition and location of machinery, and employee hiring and training.
Service charge
A gratuity usually paid in restaurants and hotels; a fee for any service provided, or additional fee for any enhancements to an existing service.
Self-employment
Being in business on one's own account, either on a freelance basis, or by reason of owning a business and not being engaged as an employee under a contract of employment.
Seed money
A usually modest amount of money used to convert an idea into a viable business. Seed money is a form of venture capital.
Seasonal business
Trade that is affected by seasonal factors, for example, trade in goods such as suntan products or Christmas trees.
Security
Collateral that is promised to a lender as protection in case the borrower defaults on a loan.
Sales quota
A target set for the sales force stating the number and range of products or services that should be sold.
Sales promotion
Activities, usually short-term, designed to attract attention to a particular product and to increase its sales using advertising and publicity.
Sales forecast
A prediction of future sales, based on past sales performance. Sales forecasting takes into account the economic climate current sales trends, company capacity for production, company policy, and market research.
Sales force
A group of sales people or sales representatives responsible for the sales of either a single product or the entire range of an organization's products.
Sales channel
A means of distributing products to the marketplace, either directly to the end costumer, or indirectly through intermediaries such as retailers or dealers.
Sales
The activity of selling a company's products or services, the income generated by this, or the department that deals with selling.
Salary
A form of pay given to employees at regular intervals in exchange of the work they have done.
Revolving fund
A fund the resources of which are replenished from the revenue of the projects that it finances
Retailing
Businesses and individuals engaged in the activity of selling products to final consumers.
Response rate
The proportion of subjects in a statistical study who respond to a researcher's questionnaire.
Response marketing
In e-marketing, the process of managing responses or leads from the time they are received through to conversion to sale.
Reinsurance
A method of reducing risk by transferring all or part of an insurance policy to another insurer.
Refund
The reimbursement of the purchase price of a good or service, for reasons such as faults in manufacturing or dissatisfaction with the service provided.
Redundancy
Dismissal from work because a job ceases to exist. Redundancy occurs most frequently when an employer goes out of business necessitating a cutback in the workforce, or relocates part, or all, of the company.
Recurring payments
An electronic payment facility that permits a merchant to process multiple authorizations by the same customer either as multiple payments for a fixed amount or recurring billings for varying amounts.
Recession
A stage of the business cycle in which economic activity is in slow decline. Recession usually follows a boom, and precedes a depression. It is characterized by rising unemployment and falling levels of output and investment.
Rebating
A sales promotion technique in which the customer is offered a rebate for reaching volume targets.
Ratio
The relationship of one thing to another. A "ratio" is a short-cut way of comparing things, which can be expressed as numbers or degrees.
Rate of interest
An accounting ratio of the income from investment to the amount of investment, used to measure financial performance.
Questionnaire
A data-gathering form used to collect information by a personal interview, with a telephone survey or through the mail.
Quality
All the features and characteristics of a product or service that affect its ability to meet stated or implied needs.
Qualification payment
an additional payment sometimes made to employees of New Zealand companies, who have gained an academic qualification relevant to their jobs.
Publicity
Any non-paid, news-oriented presentation of a product, service or business entity in a mass media format.
Promotional pricing
Temporarily pricing a product or service below list price or below cost in order to attract customers.
Promotion
The communication of information by a seller to influence the attitudes and behavior of potential buyers.
Pro-forma invoice
an invoice that does not include all the details of a transaction, often sent before goods are supplied and followed by a final detailed invoice.
Profit and Loss Statement
A list of the total amount of sales (rev¬enues) and total costs (expenses). The difference between revenues and expenses is your profit or loss.
Product line
A group of products related to each other by marketing, technical or end-use considerations.
Product life cycle (PLC)
The stages of development and decline through which a successful product typically moves.
Saturday, December 26, 2009
Product
Definition 1:
Anything capable of satisfying needs, including tangible items, services and ideas.
Definition 2:
Any thing that can be offered to a market for attention acquisition, use or consumption that might satisfy a want or need. it includes physical objects, services, persons, places, organizations and ideas
Anything capable of satisfying needs, including tangible items, services and ideas.
Definition 2:
Any thing that can be offered to a market for attention acquisition, use or consumption that might satisfy a want or need. it includes physical objects, services, persons, places, organizations and ideas
(Kotler & Armstrong)
Producers
The components of the organizational market that acquire products, services that enter into the production of products and services that are sold or supplied to others.
Probation
A trial period in the first months of employment when the employer checks the suitability and capability of a person in a certain role, and takes any corrective action.
Principal
The amount of money borrowed in a debt agreement and the amount upon which interest is calculated.
Price war
A situation in which two or more companies each try to increase their own share of the market by lowering prices.
Price floor
The lowest amount a business owner can charge for a prod¬uct or service and still meet all expenses.
Price discrimination
The practice of selling of the same product to different buyers at different prices.
Price control
Government regulations that set maximum prices for commodities or control price levels by credit controls.
Price ceiling
The highest amount a customer will pay for a product or a service based upon perceived value.
Price
The exchange value of a product or service from the perspective of both the buyer and the seller.
Prepayment penalty
A charge that may be levied against somebody who makes a payment before its due date. The penalty compensates the lender or seller for potential lost interest.
Pre-billing
The practice of submitting a bill for a product or service before it has actually been delivered.
Postdate
To put a later date on a document or check than the date when it is signed, with the effect that it is not valid until the later date.
Point of purchase
The place at which a product is purchased by the customer. The point of sale can be a retail outlet, a display case, or even a legal business relationship of two or more people who share responsibilities, resources, profits and liabilities.
Planning
The process of setting objectives, or goals, and formulating policies, strategies, and procedures to meet them.
Phantom income
Income that is subject to tax even though the recipient never actually gets control of it, for example, income from a limited partnership.
Performance appraisal
A face-to-face discussion in which one employee's work is discussed, reviewed, and appraised by another, using an agreed and understood framework.
Perception
The process of selecting, organizing and interpreting infor¬mation received through the senses.
Pay Pal
A Web based service that enables Internet users to send and receive payments electronically. To open a Pay Pal account, users register and provide their credit card details. When they decide to make a transaction via Pay Pal, their card is charged for the transfer.
Payment-in-kind
An alternative form of pay given to employees in place of monetary reward but considered to be of equivalent value. A payment in kind takes the form of a car, purchase of goods at cost price, or other nonfinancial exchange that benefits an employee.
Payment gateway
A company or organization that provides an interface between merchant's point-of-sale system, acquirer payment systems, and issuer payment systems.
Payable
Ready to be paid. One of the standard accounts kept by a book¬keeper is "accounts payable." This is a list of those bills that are current and due to be paid.
Patent
A type of copyright granted as a fixed-term monopoly to an inventor by the state to prevent others copying an invention, or improvement of a product or process.
Passive investment management
The managing of a mutual fund or other investment portfolio by relying on automatic adjustments such as indexation instead of making personal judgments.
Partnership
A legal business relationship of two or more people who share responsibilities, resources, profits and liabilities.
Overprice
to set the price of a product or service too high, with the result that it is unacceptable to the market.
Overhead
A general term for costs of materials and services not directly adding to or readily identifiable with the product or service being sold.
Outsourcing
Term used in business to identify the process of sub-contracting work to outside vendors
Overdraft facility
A credit arrangement with a bank, allowing a person or company with an account to use borrowed money up to an agreed limit when nothing is left in the account.
Overdraft
The amount by which the money withdrawn from a bank account exceeds the balance of the account.
Outsourcing
Term used in business to identify the process of sub-contracting work to outside vendors. The transfer of the provision of services previously carried out by in-house personnel to an external organization, usually under a contract with agreed standards, costs, and conditions.
Organizational market
A marketplace made up of producers, trade industries, governments and institutions.
Order
a contract made between a customer and a supplier for the supply of a range of goods or services in a determined quantity and quality, at an agreed price, and for delivery at or by a specified time.
Option
a contract for the right to buy or sell an asset, typically a commodity, under certain terms.
Operating costs
Expenditures arising out of current business activities. The costs incurred to do business such as salaries, electricity, rental. Also may be called "overhead."
Operating cash flow
The amount used to represent the money moving through a company as a result of its operations, as distinct from its purely financial transactions.
Open-end credit
A form of credit that does not have an upper limit on the amount that can be borrowed or a time limit before repayment is due
Obsolescence
The decline of products in a market due to the introduction of better competitor products or rapid technology developments.
Objective
An end toward which effort is directed and on which resources are focused, usually to achieve an organization's strategy.
Friday, December 25, 2009
Nonrecurring
One time, not repeating. "Nonrecurring" expenses are those involved in starting a business, and which only have to be paid once and will not occur again.
Nondisclosure agreement
A legally enforceable agreement preventing present or past employees from disclosing commercially sensitive information belonging to the employer to any other party.
Net worth
The total value of a business in financial terms. Net worth is calculated by subtracting total liabilities from total assets.
Net operating income
The amount by which income exceeds expenses, before considering taxes and interest
Net errors and omissions
The net amount of the discrepancies that arise in calculations of balances of payments.
Negotiation
A discussion with the aim of resolving a difference of opinion, or dispute, or to settle the terms of an agreement or transaction.
NASDAQ
National Association of Security Dealers Automated Quotation system, a screen-based quotation system supporting market making in registered equities.
Multilevel sales
Also known as network marketing. Rather than hiring sales staff, multilevel sales companies sell their products through thou-sands of independent distributors. Multilevel sales companies offer dis¬tributors commissions on both retail sales and the sales of their "down-line" (the network of other distributors they sponsor).
Middleman
A person or company that performs functions or renders services involved in the purchase and/or sale of goods in their flow from producer to consumer.
Micro-business
An owner-operated business with few employees and less than $250,000 in annual sales.
Marketing research
The systematic design, collection, analysis and reporting of data regarding a specific marketing situation.
Marketing mix
The set of product, place, promotion, price and packaging variables, which a marketing manager controls and orchestrates to bring a product or service into the marketplace.
Market targeting
Choosing a marketing strategy in terms of competi¬tive strengths and marketplace realities.
Market positioning
Finding a market niche that emphasizes the strengths of a product or service in relation to the weaknesses of the competition.
Marketing
One of the main management disciplines, encompassing all the strategic planning, operations, activities, and processes involved in achieving organizational objectives by delivering value to customers. Marketing management focuses on satisfying customer requirements by identifying needs and wants.
Definition 1:
Marketing is the process associated with promoted for sale goods or services. It is considered a "social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others." It is an integrated process through which companies create value for customers and build strong customer relationships in order to capture value from customers in return.
Definition 2:
The Chartered Institute of Marketing define marketing as 'The management process responsible for identifying, anticipating and satisfying customer requirements profitably'
Definition 3:
Philip Kotler defines marketing as 'satisfying needs and wants through an exchange process'
Definition 4:
P.Tailor of www.learnmarketing.net suggests that 'Marketing is not about providing products or services it is essentially about providing changing benefits to the changing needs and demands of the customer (P.Tailor 7/00)'
Definition 5:
Marketing is the process of interesting potential customers and clients in your products and/or services.
The key word in this marketing definition is "process"; marketing involves researching, promoting, selling, and distributing your products or services.
Definition 6:
A social and managerial process whereby individuals and groups obtain what they need and want through creating and exchanging products and value with others
Definition 7:
Management Process through which goods and services move from concept to the customer. As a philosophy, it is based on thinking about the business in terms of customer needs and their satisfaction. As a practice, it consists in coordination of four elements called 4P's:
(1) Identification, selection, and development of a product
(2) Determination of its price
(3) Selection of a distribution channel to reach the customer's place, and
(4) Development and implementation of a promotional strategy.
Marketing differs from selling because (in the words of Harvard Business School's emeritus professor of marketing Theodore C. Levitt) "Selling concerns itself with the tricks and techniques of getting people to exchange their cash for your product. It is not concerned with the values that the exchange is all about. And it does not, as marketing invariably does, view the entire business process as consisting of a tightly integrated effort to discover, create, arouse, and satisfy customer needs."
Definition 1:
Marketing is the process associated with promoted for sale goods or services. It is considered a "social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others." It is an integrated process through which companies create value for customers and build strong customer relationships in order to capture value from customers in return.
Definition 2:
The Chartered Institute of Marketing define marketing as 'The management process responsible for identifying, anticipating and satisfying customer requirements profitably'
Definition 3:
Philip Kotler defines marketing as 'satisfying needs and wants through an exchange process'
Definition 4:
P.Tailor of www.learnmarketing.net suggests that 'Marketing is not about providing products or services it is essentially about providing changing benefits to the changing needs and demands of the customer (P.Tailor 7/00)'
Definition 5:
Marketing is the process of interesting potential customers and clients in your products and/or services.
The key word in this marketing definition is "process"; marketing involves researching, promoting, selling, and distributing your products or services.
Definition 6:
A social and managerial process whereby individuals and groups obtain what they need and want through creating and exchanging products and value with others
Definition 7:
Management Process through which goods and services move from concept to the customer. As a philosophy, it is based on thinking about the business in terms of customer needs and their satisfaction. As a practice, it consists in coordination of four elements called 4P's:
(1) Identification, selection, and development of a product
(2) Determination of its price
(3) Selection of a distribution channel to reach the customer's place, and
(4) Development and implementation of a promotional strategy.
Marketing differs from selling because (in the words of Harvard Business School's emeritus professor of marketing Theodore C. Levitt) "Selling concerns itself with the tricks and techniques of getting people to exchange their cash for your product. It is not concerned with the values that the exchange is all about. And it does not, as marketing invariably does, view the entire business process as consisting of a tightly integrated effort to discover, create, arouse, and satisfy customer needs."
Market niche
A well-defined group of customers for which what you have to offer is particularly suitable.
Market demand
Total volume purchased in a specific geographic area by a specific customer group in a specified time period under a specified marketing program.
Market development
Marketing activities designed to increase the overall size of a market through education and awareness.
Market
A set of potential or real buyers or a place in which there is a demand for products or services, actual or potential buyers of a product or service.
Management
The use of professional skills for identifying and achieving organizational objectives through the deployment of appropriate resources. The art of conducting and supervising a business.
Mail order
A form of retailing in which consumers order products from a catalogue for delivery to their home.
Macroeconomics
the branch of economics that studies national income and the economic systems of national economies.
Loan agreement
A document that states what a business can and can¬not do as long as it owes money to the lender.
Liquidity
The ability of a business to meet its financial responsibilities. The degree of readiness with which assets can be converted into cash without loss.
Limited partnership
A legal partnership where some owners are allowed to assume responsibility only up to the amount invested.
License
A contractual arrangement, or a document representing this, in which one organization gives another the rights to produce, sell, or use something in return for payment.
Leverage
A method of corporate funding in which a higher proportion of funds is raised through borrowing than share issue.
Letter of Credit
A letter issued by a bank that can be presented to another bank to authorize the issue of credit or money.
Law of diminishing returns
A rule stating that as one factor of production is increased while others remain constant, the extra output generated by the additional input will eventually fall. The law of diminishing returns therefore means that extra workers, extra capital, extra machinery, or extra land may not necessarily raise output as much as expected.
Monday, December 21, 2009
Labor force
People of working age who are available for paid employment, including the unemployed looking for work, but excluding categories such as full-time students, careers, and the long-term sick and disabled.
Joint Ownership
ownership by more than one party, each with equal rights in the item owned. Joint ownership is often applied to property or other assets.
Joint Account
An account, for example, one held at a bank or by a broker, that two or more people own in common and have access to.
Friday, December 18, 2009
Initial public offering
The first instance of making particular shares available for sale to the public.
Thursday, December 17, 2009
Indirect channel
The selling and distribution of products to customers through intermediaries such as wholesalers, distributors, agents, dealers, or retailers.
Income statement
A financial document that shows how much money (revenue) came in and how much money (expense) was paid out.
Growth capital
Funding that allows a company to accelerate its growth. For new startup companies, growth capital is the second stage of funding after seed money
Wednesday, December 16, 2009
Invoice
a document that a supplier sends to a customer detailing the cost of products or services supplied and requesting payment.
Invisible exports
the profits, dividends, interest, and royalties received from selling a country's services abroad.
Investment
The spending money on stocks, shares, and other securities, or on assets such as plant and machinery.
Inventory
A list of assets being held for sale, The stock of finished goods, raw materials, and work in progress held by a company.
Internet
The vast collection in inter-connected networks that provide electronic mail and access to the World Wide Web.
Income statement
A financial document that shows how much money (revenue) came in and how much money (expense) was paid out.
Interest rate
the amount of interest charged for borrowing a particular sum of money over a specified period of time.
Intellectual property
The ownership of rights to ideas, designs, and inventions, including copyrights, patents, and trademarks. Intellectual property is protected by law in most countries, and the World Intellectual Property Organization is responsible for harmonizing the law across different countries and promoting protection of intellectual property rights.
Insurance
an arrangement in which individuals or companies pay another company to guarantee them compensation if they suffer loss resulting from risks such as fire, theft, or accidental damage.
Insolvency
the inability to pay debts when they become due. Insolvency will apply even if total assets exceed total liabilities, if those assets cannot be readily converted into cash to meet debts as they mature. Even then, insolvency may not necessarily mean business failure. Bankruptcy may be avoided through debt rescheduling or turnaround management.
Infomercial
A television or cinema commercial that includes helpful information about a product as well as advertising content.
Inflation
A sustained increase in a country's general level of prices that devalues its currency, often caused by excess demand in the economy.
Indirect cost
A fixed or overhead cost that cannot be attributed directly to the production of a particular item and is incurred even when there is no output.
Income statement
A financial document that shows how much money (revenue) came in and how much money (expense) was paid out.
Income tax
a tax levied directly on the income of a person or a company and paid to the local, state, or federal government.
Income statement
A financial document that shows how much money (revenue) came in and how much money (expense) was paid out.
Income redistribution
A government policy that seeks to restrain increases in wages or prices by regulating the permitted level of increase.
Import
A product or service brought into another country from its country of origin either for sale or for use in manufacturing.
IMF
International Monetary Fund, the organization that industrialized nations have established to reduce trade barriers and stabilize currencies, especially those of less industrialized nations.
Hyperinflation
Very rapid growth in the rate of inflation so that money loses value and physical goods replace currency as a medium of exchange.
Horizontal integration
The merging of functions or organizations that operate on a similar level. Horizontal integration involves the union of companies producing the same kinds of goods or operating at the same stage of the supply chain.
Home page
The "table of contents" to a Web site, detailing what pages are on a particular site. The first page one sees when accessing a Web site.
High-pressure
a selling technique in which the sales representative attempts to persuade a buyer very forcefully and persistently.
High end
relating to the most expensive, most advanced, or most powerful in a range of things, for example, computers.
Hedge fund
A mutual fund that takes considerable risks, including heavy investment in unconventional instruments, in the hope of generating great profits.
Guerilla marketing
A marketing technique, the aim of which is to damage the market share of competitors.
Guarantor
a person or organization that guarantees repayment of a loan if the borrower defaults or is unable to pay.
Growth rate
The rate of an economy's growth as measured by its technical progress, the growth of its labor, and the increase in its capital stock.
Gross profit
The difference between the selling price and the cost of an item. Gross profit is calculated by subtracting cost of goods sold from net sales.
GNP
Definition 1:
Gross National Product, GDP plus domestic resident's income from investment abroad less income earned in the domestic market accruing to noncitizens abroad
Definition 2:
A measure of a nation's aggregate economic output. Since 1991 GDP, a slightly different calculation, has replaced GNP as a measure of U.S. economic output.
Gross National Product, GDP plus domestic resident's income from investment abroad less income earned in the domestic market accruing to noncitizens abroad
Definition 2:
A measure of a nation's aggregate economic output. Since 1991 GDP, a slightly different calculation, has replaced GNP as a measure of U.S. economic output.
Globalization
The process of tailoring products or services to different local markets around the world.
GDP
Definition 1:
Gross domestic product, the total flow of services and goods produced by an economy over a quarter or a year, measured by the aggregate value of services and goods at market prices.
Definition 2:
The most comprehensive single measure of aggregate economic output represents the market value of the total output of the goods and services produced by a nation's economy.
Gross domestic product, the total flow of services and goods produced by an economy over a quarter or a year, measured by the aggregate value of services and goods at market prices.
Definition 2:
The most comprehensive single measure of aggregate economic output represents the market value of the total output of the goods and services produced by a nation's economy.
Tuesday, December 15, 2009
Franchise chain
: a number of retail outlets operating the same franchise. A franchise chain may vary in size from a few to many thousands of outlets and in coverage from a small local area to worldwide.
Monday, December 14, 2009
Floating rate
an interest rate that is not fixed and which changes according to fluctuations in the market
Gap analysis
A marketing technique used to identify gaps in market or product coverage. In gap analysis, consumer information or requirements are tabulated and matched to product categories in order to identify product or service opportunities or gaps in product planning.
Flow chart
a graphic representation of the stages in a process or system or the steps required to solve a problem.
Sunday, December 13, 2009
FIFO
FIRST IN FIRST OUT, a method of inventory control where the stock of a given product first placed in store is used before more recently produced or acquired goods or materials.
Fixed expenses
Those costs which don't vary from one period to the next. Generally, these expenses are not affected by the volume of business.
Feedback
the communication of responses and reactions to proposals and changes or to the findings of performance appraisals with the aim of enabling improvements to be made.
Finance
the money needed by an individual or company to pay for something, for example, a project or stocks.
Feasibility study
an investigation into a proposed plan or project to determine whether and how it can be successfully and profitably carried out.
Saturday, December 12, 2009
Euro
The currency of 12 member nations of the European Union. The Euro was introduced in 1999, when the first 11 countries to adopt it joined together in an Economic and Monetary Union and fixed their currencies' exchange rate to the Euro. Notes and coins were brought into general circulation in January 2002, although banks and other financial institutions had before that time carried out transactions in Euros.
Friday, December 11, 2009
Export agent
An intermediary who acts on behalf of a company to open up or develop a market in a foreign country. Export agents are often paid a commission on all sales and may have exclusive rights in a particular geographic area.
Float
The period between the presentation of a check as payment and the actual payment to the payee.
Expenses
personal costs incurred by an employee in carrying out activities for an organization that are reimbursed by the employer.
Equity
Definition 1:
A financial investment in a business. An equity investment carries with it a share of ownership of the business, a stake in the profits and a say in how it is managed. Equity is calculated by subtracting the liabilities of the business from the assets of the business
Definition 2:
An accounting term used to describe the net investment of owners or stockholders in a business. Under the accounting equation, equity also represents the result of assets less liabilities.
A financial investment in a business. An equity investment carries with it a share of ownership of the business, a stake in the profits and a say in how it is managed. Equity is calculated by subtracting the liabilities of the business from the assets of the business
Definition 2:
An accounting term used to describe the net investment of owners or stockholders in a business. Under the accounting equation, equity also represents the result of assets less liabilities.
Thursday, December 10, 2009
Equipment
Physical property of a more or less permanent nature ordinarily useful in carrying on operations, other than land, buildings or improvements to either of them. Examples are machinery, tools, tracks, cars, ships, furniture and furnishings.
Entrepreneur
An innovator of business enterprise who recognizes opportunities to introduce a new product, a new process or an improved organization, and who raises the necessary money, assembles the factors for production and organizes an operation to exploit the opportunity.
Exchange controls
The regulations by which a country's banking system controls its residents' or resident companies' dealings in foreign currencies and gold.
Wednesday, December 9, 2009
Exchange
The process by which two or more parties give something of value to one another to satisfy needs and wants.
Enterprise
A venture characterized by innovation, creativity, dynamism, and risk. An enterprise can consist of one project, or may refer to an entire organization.
E-business
: The conduct of business on the Internet, including the electronic purchasing and selling of goods and services, servicing customers, and communications with business partners.
Expense account
Amount of money that an employee or group of employees can draw on to reclaim personal expenses incurred in carrying out activities for an organization.
Tuesday, December 8, 2009
Ergonomics
The study of workplace design and the physical and psychological impact it has on workers. Ergonomics is about the fit between people, their work activities, equipment, work systems, and environment to ensure that workplaces are safe, comfortable, efficient, and that productivity is not compromised.
Excise duty
A tax on goods such as alcohol or tobacco produced and sold within a particular country.
Earnings
a sum of money gained from employment, usually quoted before tax, including extra reward such as fringe benefits, allowances, or incentives. In business, income or profit from a business, quoted gross or net of tax, which may be retained and distributed in part to the shareholders.
Distribution channel
All of the individuals and organizations involved in the process of moving products from producer to consumer. The route a product follows as it moves from the original grower, producer or importer to the ultimate consumer.
Equal opportunities
The granting of equal rights privileges, and status regardless of gender, age, race, religion, disability, or sexual orientation. Equality in employment is regulated by law in most Western countries.
Monday, December 7, 2009
E-commerce
The exchange of goods, information products, or services via an electronic medium such as the Internet.
Discount
A deduction from the stated or list price of a product or service in relation to the standard price. A discount is a selling technique to encourage customers to buy and is offered for a variety of reasons: for buying in quantity or for repeat buying; as a special offer to move a slow-moving line or for paying by cash, etc.
Sunday, December 6, 2009
Downsize
Term currently used to indicate employee reassignment, layoffs and restructuring in order to make a business more competitive, efficient, and/or cost-effective.
Direct selling
The process whereby the producer sells to the user, ultimate consumer or retailer without intervening middlemen such as wholesalers, retailers, or brokers. Direct selling offers many advantages to the customer, including lower prices and shopping from home. Potential disadvantages include the lack of after-sales service, an inability to inspect products prior to purchase, lack of specialist advice, and difficulties in returning or exchanging goods.
Depreciation
A decrease in value through age, wear or deterioration. Depreciation is a normal expense of doing business that must be taken into account. There are laws and regulations governing the manner and time periods that may be used for depreciation.
Direct cost
Ma variable cost directly attributable to production. Items that are classed as direct cost include materials used, labor deployed, and marketing budget, and amounts spent will vary with output.
Deflation
a reduction in the general level of prices sustained over several months, usually accompanied by declining employment and output.
Saturday, December 5, 2009
Futures market
a market for buying and selling securities, commodities, or currencies that tend to fluctuate in price over a period of time. The market's aim is to reduce the risk of uncertainty about future prices.
Free market
a market in which supply and demand are unregulated except by the country's competition policy, and rights in physical and intellectual property are upheld.
Free enterprise
the trade carried on in a free-market economy, where resources are allocated on the basis of supply and demand.
Franchise
an agreement enabling a third party to sell or provide products or services owned by a manufacturer or supplier. The franchise is regulated by a franchise contract, or franchise agreement, that specifies the terms and conditions of the franchise.
Friday, December 4, 2009
Direct mail
: Marketing goods or services directly to the consumer through the mall. Direct mail is one tool that can be used as part of a marketing strategy. The use of direct mail is often administered by third-party companies that own databases containing not only names and addresses, but also social, economic, and lifestyle information. It is sometimes seen as an invasion of personal privacy, and there is some public resentment of this form of advertising. This is particularly true of e-mailed direct mail, known derogatively as SPAM.
Fraud
the use of dishonesty, deception. or false representation in order to gain a material advantage or to injure the interest of others.
Forward pricing
the establishment of the price of a share in a mutual fund based on the next asset valuation.
Fixed asset
a long term asset of a business such as a machine or building that will not usually be traded.
Fiscal
relating to financial matters, especially in respect to government collection, use. and regulation of money through taxation.
Dirty price
the price of a debt instrument that includes the amount of accrued interest that has not yet been paid.
Differentiated marketing
Selecting and developing a number of offerings to meet the needs of a number of specific market segments.
Devaluation
a reduction in the official fixed rate at which one currency exchanges for another under a fixed-rate regime, usually to correct a balance of payments deficit.
Desktop publishing
Commonly used term for computer-generated printed materials such as newsletters and brochures.
Debt capital
The part of the investment capital that must be borrowed. Default: The failure to pay a debt or meet an obligation.
Debt
That which is owed. Debt refers to borrowed funds and is gener¬ally secured by collateral or a co-signer.
Thursday, December 3, 2009
Current liabilities
Amounts owned that will ordinarily be paid by a company within one year. Generally includes accounts payable, current portion of long-term debt, interest and dividends payable
Current assets
Valuable resources or property owned by a company that will be turned into cash within one year or used up in the operations of the company within one year. Generally includes cash, accounts receivable, inventory and prepaid expenses.
Desktop publishing
Commonly used term for computer-generated printed materials such as newsletters and brochures.
Depreciation
A decrease in value through age, wear or deterioration. Depreciation is a normal expense of doing business that must be taken into account. There are laws and regulations governing the manner and time periods that may be used for depreciation.
Debt capital
The part of the investment capital that must be borrowed. Default: The failure to pay a debt or meet an obligation.
Current assets
: Valuable resources or property owned by a company that will be turned into cash within one year or used up in the operations of the company within one year. Generally includes cash, accounts receivable, inventory and prepaid expenses.
Credit line
The maximum amount of credit or money a financial insti¬tution or trade firm will extend to a customer.
Credit
Another word for debt. Credit is given to customers when they are allowed to make a purchase with the promise to pay later. A bank gives credit when it lends money.
Cost of goods sold
The direct cost to the business owner of those items which will be sold to customers.
Corporation
A voluntary organization of persons, either actual indi¬viduals or legal entities, legally bound together to form a business enter¬prise; an artificial legal entity created by government grant and treated by law as an individual entity.
Tuesday, December 1, 2009
Saturday, November 28, 2009
Contract
Definition 1:
An agreement regarding mutual responsibilities between two or more parties.
Definition 2:
A mutually binding legal relationship obligating the seller to furnish supplies or services (including construction) and the buyer to pay for them.
An agreement regarding mutual responsibilities between two or more parties.
Definition 2:
A mutually binding legal relationship obligating the seller to furnish supplies or services (including construction) and the buyer to pay for them.
Friday, November 27, 2009
Commission
A percentage of the principal or of the income that an agent receives as compensation for services.
Co-signers
Joint signers of a loan agreement who pledge to meet the obligations of a business in case of default.
Wednesday, November 25, 2009
Collateral
property or goods used as security against a loan and forfeited to the lender if the borrower defaults
Close-end credit
a loan, plus any interest and finance charges, that is to be repaid in full by a specified future date. Loans that have real estate or motor vehicles as collateral are usually closed-end.
Close corporation
a public corporation in which all of the voting stock is held by a few shareholders, for example, management or family members. Although it is a public company, shares would not normally be available for trading because of a lack of liquidity.
Tuesday, November 24, 2009
Chief financial officer
the officer of the organization responsible for handling finds, signing checks, the keeping of financial records, and financial planning of the company.
Chief Executive Officer
the highest ranking executive officer within a company or corporation, who has responsibility for over-all management of its day-to-day affairs under the supervision of the board of directors. Abbr. CEO
Chief Executive
the person with overall responsibility for ensuring that the daily operations of an organization run efficiently and for carrying out strategic plans. The chief executive of an organization normally sits on the board of directors. In a limited company, the chief executive is usually known as a managing director.
Chamber of Commerce
An organization of business people designed to advance the interests of its members. There are three levels: national, state and local.
Certified Public Accountant
An accountant to whom a state has given a certificate showing that he has met prescribed requirements designed to insure competence on the part of the public practitioner in accounting and that he is permitted to use the designation Certified Public Accountant, commonly abbreviated as CPA.
Clicks and brick
a business strategy that involves combining the traditional retail outlets with online commerce.
Monday, November 23, 2009
Certificate
A document representing partial ownership of a company that states the number of shares that the document is worth and the names of the company and the owner of the shares
Centralization
the gathering together, at a corporate headquarters, of specialist functions such as finance, personnel and information technology. Centralization is usually undertaken in order to effect economies of scale and to standardize operating procedures throughout the organization. Centralized management can become cumbersome and inefficient and may produce communication problems. Some organizations have shifted toward decentralization to try to avoid this.
Cash flow
Definition 1:
The actual movement of cash within a business; the analysis of how much cash is needed and when that money is required by a busi¬ness within a period of time.
Definition 2:
An accounting presentation showing how much of the cash generated by the business remains after both expenses (including interest) and principal repayment on financing are paid. A projected cash flow statement indicates whether the business will have cash
The actual movement of cash within a business; the analysis of how much cash is needed and when that money is required by a busi¬ness within a period of time.
Definition 2:
An accounting presentation showing how much of the cash generated by the business remains after both expenses (including interest) and principal repayment on financing are paid. A projected cash flow statement indicates whether the business will have cash
Capitalization
the amount of money invested in a company or the worth of the bonds and stocks of a company.
Sunday, November 22, 2009
Capital equipment
Equipment that you use to manufacture a product, provide a service or use to sell, store and deliver merchandise. Such equipment will not be sold in the normal course of business, but will be used and worn out or consumed in the course of business.
Capitalism
an economic and social system in which individuals can maximize profits because they own the means of production.
Break-even
The point of business activity when total revenue equals total expenses. Above the break-even point, the business is making a profit. Below the break-even point, the business is incurring a loss.
Brand name
A term, symbol, design or combination thereof that iden¬tifies and differentiates a seller's products or service.
Brand
A design, mark, symbol or other device that distinguishes one line or type of goods from those of a competitor
Bottom line
The figure that reflects company profitability on the income statement. The bottom line is the profit after all expenses and taxes have been paid.
Board of Trustees
A committee or governing body that takes responsibility for managing, and holds in trust, funds, assets, or property belonging to others, for example, charitable or pension funds or assets.
Saturday, November 21, 2009
Board of directors
Those individuals selected to sit on an authoritative standing committee or governing body, taking responsibility for the management of an organization. Members of the board of directors are officially chosen by the shareholders, but in practice they are usually selected on the basis of the current board's recommendations. The board usually includes major shareholders as well as directors of the company.
Black market
An illegal market, usually for goods that are in short supply. Black market trading breaks government regulations or legislation and is particularly prevalent during times of shortage, such as rationing, or in industries that are very highly regulated, such as pharmaceuticals or armaments.
Capital gains (and losses)
The financial gain made upon the disposal of an asset. The gain is the difference between the cost of its acquisition and net proceeds upon its sale.
Capital allowance
the tax advantage that a company is granted for money that it spends on fixed assets.
Bill of sale
Formal legal document that conveys title to or interest in specific property from the seller to the buyer
Bookkeeping
The process of recording business transactions into the accounting records. The "books" are the documents in which the records of transactions are kept.
Thursday, November 19, 2009
Bill of lading
A statement of the nature and value of goods being transported, especially by ship, along with the conditions applying to their transportation. Drawn up by the carrier, this document serves as a contract between the owner of the goods and the carrier.
Bank guarantee
a commitment made by a bank to a foreign buyer that the bank will pay an exporter for goods shipped if the buyer defaults.
Banker's draft
a bill of exchange payable on demand and drawn by one bank on another. Regarded as being equivalent to cash, the draft cannot be returned unpaid.
Wednesday, November 18, 2009
Ballpark
an informal term for a rough, estimated figure. The term was derived from the approximate assessment of the number of spectators that might be made on the basis of a glance around at a sporting event
Benchmarking
Rating your company's products, services and practices against those of the front-runners in the industry.
Balance sheet
An itemized statement that lists the total assets and total liabilities of a given business to portray its net worth at a given moment in time.
Balanced investment strategy
a strategy of investing in a variety of types of companies and financial instruments to reduce the risk of loss through poor performance of any one type.
Bill of entry
A statement of the nature and value of goods to be imported or exported, prepared by the shipper and presented to a customhouse.
Tuesday, November 17, 2009
Balance of payments
a list of a country's credit and debit transactions with international financial institutions and foreign countries in a specific period
Bank card
a plastic card issued by a bank and accepted by merchants in payment for transactions. The most common types are credit cards and debit cards, although smart cards have been introduced. Bank cards are governed by an internationally recognized set of rules for the authorization of their use and the clearing and settlement of transactions.
Balanced budget
a budget in which planned expenditure on goods and services and debt income can be met by current income from taxation and other central government receipts.
Saturday, November 14, 2009
Appreciation
The increase in the value of an asset in excess of its depreciable cost due to economic and other conditions, as distinguished from increases in value due to improvements or additions made to it.
Appraisal
Evaluation of a specific piece of personal or real property. The value placed on the property evaluated.
Annual report
The yearly report made by a company at the close of the fiscal year, stating the company's receipts and disbursements, assets and liabilities.
Analysis
Breaking an idea or problem down into its parts; a thorough examination of the parts of anything.
Accounts receivable factoring
the buying of accounts receivable at a discount with the aim of making a profit from collecting them.
Accounts receivable
Definition 1:
Money owed to your business for goods or ser¬vices that have been delivered but not yet paid for.
Definition 2:
Trade accounts of businesses representing moneys due for goods sold or services rendered evidenced by notes, statements, invoices or other written evidence of a present obligation.
Money owed to your business for goods or ser¬vices that have been delivered but not yet paid for.
Definition 2:
Trade accounts of businesses representing moneys due for goods sold or services rendered evidenced by notes, statements, invoices or other written evidence of a present obligation.
Accounting rate of return
: the ratio of profit before interest and taxation to the percentage of capital employed at the end of a period. Variations include using profit after interest and taxation, equity capital employed, and average capital for the period.
Friday, November 13, 2009
Backup
a period in which bond yields rise and prices fall, or a sudden reversal in a stock market trend.
Back pay
Pay that is owed to an employee for work carried out before the current payment period and is either overdue or results from a backdated pay increase.
Back office
The administrative staff of a company who do not have face-to-face contact with the company's customers
Back-to-back loan
an arrangement in which two companies in different countries borrow offsetting amounts in each other's currency and each repays it at a specified future date in its domestic currency. Such a loan, often between a company and its foreign subsidiary, eliminates the risk of loss from exchange rate fluctuations.
Audit
Definition: 1
An examination and verification of a company's financial and accounting records and supporting documents by a professional, such as a Certified Public Accountant.
Definition: 2
To audit means to go through the process of examining and verifying a company's financial records and supporting documents.
While a business might go through an audit for any number of reasons, such as wanting to attract investors, get a loan, or sell the business, for many business people the word "audit" is welded to the words "income tax".
An income tax audit is an inspection and verification of a company's records and supporting documents conducted by a CRA (Canada Revenue Agency) auditor.
The CRA doesn't just conduct income tax audits, however; they perform audits of any CRA accounts, including auditing GST returns and claims for rebates.
According to the CRA's Guide For Canadian Small Businesses, an audit usually takes one to two weeks, and involves "an examination of your ledgers, journals, bank accounts, sales invoices, purchase vouchers, and expense accounts." They go on to point out that the audit process may involve touring your business premises, and seeking information and assistance from your employees.
As the CRA performs a certain number of audits each year to monitor compliance, it's wise to be certain that your business records are well-kept, complete, and always "audit-ready".
An examination and verification of a company's financial and accounting records and supporting documents by a professional, such as a Certified Public Accountant.
Definition: 2
To audit means to go through the process of examining and verifying a company's financial records and supporting documents.
While a business might go through an audit for any number of reasons, such as wanting to attract investors, get a loan, or sell the business, for many business people the word "audit" is welded to the words "income tax".
An income tax audit is an inspection and verification of a company's records and supporting documents conducted by a CRA (Canada Revenue Agency) auditor.
The CRA doesn't just conduct income tax audits, however; they perform audits of any CRA accounts, including auditing GST returns and claims for rebates.
According to the CRA's Guide For Canadian Small Businesses, an audit usually takes one to two weeks, and involves "an examination of your ledgers, journals, bank accounts, sales invoices, purchase vouchers, and expense accounts." They go on to point out that the audit process may involve touring your business premises, and seeking information and assistance from your employees.
As the CRA performs a certain number of audits each year to monitor compliance, it's wise to be certain that your business records are well-kept, complete, and always "audit-ready".
Audit
An examination of accounting documents and of supporting evidence for the purpose of reaching an informed opinion concerning their propriety.
Accounting period
A time interval at the end of which an analysis is made of the information contained in the bookkeeping records. Also the period of time covered by the profit and loss statement.
Accountant
One who is skilled at keeping business records. Usually, a highly trained professional rather than one who keeps books. An accoun¬tant can set up the books needed for a business to operate and help the owner understand them
Accounts payable
Defenition 1
Money which you owe to an individual or business for goods or services that have been received but not yet paid for.
Definition 2
In accounting, accounts payable are debts resulting from purchasing assets or receiving services on credit or on an open account. You have accounts payable when you have not yet paid for the assets or services you have received.
Definition 3:
Trade accounts of businesses representing obligations to pay for goods and services received.
Money which you owe to an individual or business for goods or services that have been received but not yet paid for.
Definition 2
In accounting, accounts payable are debts resulting from purchasing assets or receiving services on credit or on an open account. You have accounts payable when you have not yet paid for the assets or services you have received.
Definition 3:
Trade accounts of businesses representing obligations to pay for goods and services received.
Actuary
A professional expert in pension and life insurance matters, particularly trained in mathematical, statistical, and accounting methods and procedures, and in insurance probabilities.
Accounting insolvency
A the condition that a company is in when its liabilities to its creditors exceeds its assets.
Articles of Incorporation
A legal document filed with the state that sets forth the purposes and regulations for a corporation. Each state has different regulations
Thursday, November 12, 2009
Accrual basis
: A method of keeping accounts that shows expenses incurred and income earned for a given fiscal period, even though such expenses and income have not been actually paid or received in cash.
Amortization
To liquidate on an installment basis; the process of grad¬ually paying off a liability over a period of time
Agent
Definition 1:
A person who is authorized to act for or represent another person in dealing with a third party.
Definition 2:
An individual or firm that effects securities transactions for the accounts of others.
Definition 3:
A person licensed by a state as a life insurance agent.
Definition 4:
A securities salesperson that represents a broker-dealer or issuer when selling or trying to sell sec
A person who is authorized to act for or represent another person in dealing with a third party.
Definition 2:
An individual or firm that effects securities transactions for the accounts of others.
Definition 3:
A person licensed by a state as a life insurance agent.
Definition 4:
A securities salesperson that represents a broker-dealer or issuer when selling or trying to sell sec
Advertising
The practice of bringing to the public's notice the good qualities of something in order to induce the public to buy or invest in it.
Administrative expense
Expenses chargeable to the managerial, general administrative and policy phases of a business in contrast to sales, manufacturing, or cost of goods expense.
Wednesday, November 11, 2009
Accelerated depreciation
A system used for computing the depreciation of some assets in a way that assumes that they depreciate faster in the early years of their acquisition
Tuesday, November 10, 2009
Accounting cost
the cost of maintaining and checking the business records of a person or organization and the preparation of forms and reports for financial purposes.
Account
A record of a business transaction. A contract arrangement, written or unwritten, to purchase and take delivery with payment to be made later as arranged.
Access bond
A type of mortgage that permits borrowers to take out loans against extra capital paid into the account, home-loan interest rates being lower than interest rates on other forms of credit.
Accelerated cost recovery system
A system used in computing the depreciation of some assets acquired before 1986 in a way that reduces taxes.
Monday, November 9, 2009
Absorption costing
An accounting practice in which fixed and variable costs of production are absorbed by different cost centers.
Absorbed costs
The indirect costs associated with manufacturing, for example, insurance or property taxes.
Sunday, November 8, 2009
Absorbed Account
An account that has lost its separate identity by being combined with related accounts in the preparation of a financial statement.
Saturday, November 7, 2009
Above-the-line
In Marketing, relating to marketing expenditure on advertising in media such as press, radio, television, cinema, and the World Wide Web, on which a commission is usually paid to an agency.
Sunday, September 13, 2009
Lailatul Qadr : The Night of Power
Qadr means honour and dignity. Lailatul Qadr means the night of honour and dignity. It is this night in which the first Divine Revelation came to the Prophet sallalahu alayhi wasallam, when he was in prayer in the cave of Hira. Since this night enjoys the honour of having the first revelation brought to the Prophet sallalahu alayhi wasallam, it has been named Lailatul Qadr.
This is one of the holiest and most blessed nights, which is likely to occur on one of the odd nights on the last ten days of Ramadhan and most likely to be the 27th. The reward of worship on this night is better than the worship of a thousand months of worship, equivalent to a person's lifetime. So, on this night one should pray nafil namaz, recite the Quran, do Tasbih, Zikr, Duas, etc as much as possible.
This night had already opened its gates of treasures when the angel for the first time had come with the Divine Message in the cave of Hira, but its auspiciousness has continued to be with us permanently. Every year in the month of Ramadhan, this night is given to the Ummah. Muslims engage in prayers, recitation of Quran and praying to Allah, as the Prophet sallalahu alayhi wasallam said: "The person who offered prayers to Allah in the night of Dignity with faith and with hope of reward from Allah, all his past sins have been forgiven." (Bukhaari)
As the rainy season is suitable for farming, similarly for the attainment of nearness to Allah, specific times , specific days and specific nights are most suitable, e.g. the time of Tahajjud prayers, Friday prayers, month of Ramadhan, the Day of Arafah, etc. So also the Night of Power is the most suitable night for attaining nearness to Allah.
In the Hadeeth, we have been asked to seek it in the last ten nights of the month of Ramadhan. Hazrat Aa'ishah radhiyallahu anhaa narrates that the Messenger of Allah sallalahu alayhi wasallam has said, 'Seek the night of Dignity in the odd nights of the last ten days of Ramadhan'.(Bukhaari).
By odd nights, the reference is made to the 21st, 23rd, 25th, 27th, 29th night of the month of Ramadhan. No one night has been fixed so that the yearning to find it may increase and people may spend more nights in worshipping Allah. From this aspect, the importance of `Itikaaf (seclusion) during the last ten days of Ramadhan is clear.
Some special prayers and Zikr for Laitul Qadr top
1. Seeking Forgiveness. Hazrat Aa'ishah radhiyallahu anhaa asked the Prophet sallalahu alayhi wasallam that if she happened to get the night sublime what prayer should she say. The Prophet sallalahu alayhi wasallam replied that she should say the following prayer :
"Allahumma innaka afuwwun kareemun tuhib-bul af-wa fa-afo anni"
(O Allah, You are the One who grants pardon for sins, loves forgiving, so forgive me.)
2. Reciting Astaghfar. The following should be recited as much as possible:
"Astaghfirullah hallazi la-ila-ha illa huwal Hayyul Qayyumo wa atu-bu ilaihe"
(I seek forgiveness from Allah, the Almighty, there is no God but He. He is self-Existent, the Eternal and I return to Him)
3. Reciting Surah `Inna anzalnahu...'
"Inna anzalnahu fee lailatul Qadr, Wa maa adraka maa lailatul Qadr.
Lailatul Qadri khairum min alfi shahr. Tanazzalul malai-katu var-roohu
fee ha bi izni Rabbihim min kulle amr. Salaamun heya hatta matla-il fajr."
4. Do Salatul Tasbih.
5. Do Afzul Zikr i.e. La ilaha illallah
This is one of the holiest and most blessed nights, which is likely to occur on one of the odd nights on the last ten days of Ramadhan and most likely to be the 27th. The reward of worship on this night is better than the worship of a thousand months of worship, equivalent to a person's lifetime. So, on this night one should pray nafil namaz, recite the Quran, do Tasbih, Zikr, Duas, etc as much as possible.
This night had already opened its gates of treasures when the angel for the first time had come with the Divine Message in the cave of Hira, but its auspiciousness has continued to be with us permanently. Every year in the month of Ramadhan, this night is given to the Ummah. Muslims engage in prayers, recitation of Quran and praying to Allah, as the Prophet sallalahu alayhi wasallam said: "The person who offered prayers to Allah in the night of Dignity with faith and with hope of reward from Allah, all his past sins have been forgiven." (Bukhaari)
As the rainy season is suitable for farming, similarly for the attainment of nearness to Allah, specific times , specific days and specific nights are most suitable, e.g. the time of Tahajjud prayers, Friday prayers, month of Ramadhan, the Day of Arafah, etc. So also the Night of Power is the most suitable night for attaining nearness to Allah.
In the Hadeeth, we have been asked to seek it in the last ten nights of the month of Ramadhan. Hazrat Aa'ishah radhiyallahu anhaa narrates that the Messenger of Allah sallalahu alayhi wasallam has said, 'Seek the night of Dignity in the odd nights of the last ten days of Ramadhan'.(Bukhaari).
By odd nights, the reference is made to the 21st, 23rd, 25th, 27th, 29th night of the month of Ramadhan. No one night has been fixed so that the yearning to find it may increase and people may spend more nights in worshipping Allah. From this aspect, the importance of `Itikaaf (seclusion) during the last ten days of Ramadhan is clear.
Some special prayers and Zikr for Laitul Qadr top
1. Seeking Forgiveness. Hazrat Aa'ishah radhiyallahu anhaa asked the Prophet sallalahu alayhi wasallam that if she happened to get the night sublime what prayer should she say. The Prophet sallalahu alayhi wasallam replied that she should say the following prayer :
"Allahumma innaka afuwwun kareemun tuhib-bul af-wa fa-afo anni"
(O Allah, You are the One who grants pardon for sins, loves forgiving, so forgive me.)
2. Reciting Astaghfar. The following should be recited as much as possible:
"Astaghfirullah hallazi la-ila-ha illa huwal Hayyul Qayyumo wa atu-bu ilaihe"
(I seek forgiveness from Allah, the Almighty, there is no God but He. He is self-Existent, the Eternal and I return to Him)
3. Reciting Surah `Inna anzalnahu...'
"Inna anzalnahu fee lailatul Qadr, Wa maa adraka maa lailatul Qadr.
Lailatul Qadri khairum min alfi shahr. Tanazzalul malai-katu var-roohu
fee ha bi izni Rabbihim min kulle amr. Salaamun heya hatta matla-il fajr."
4. Do Salatul Tasbih.
5. Do Afzul Zikr i.e. La ilaha illallah
Lailat-ul-Qadr - The night of Power
In this night (27th of Ramadan), the Holy Quran was sent down from LOH-E-MEHFOOZ (the Preserved Tablet) to the earth. Messenger of ALLAH (Blessings of Allah and peace be on him) told us to search for Shab-e-Qadr in the odd numbered nights, in the last ten days of Ramzan. So, the 21st, 23rd, 25th, 27th or 29th night of Ramadan could be Shab-e-Qadr.
Hazrat Aisha Radiallah Anha stated that Rasool Allah peace be upon him said, "Look for Lailat-Ul-Qadr in the odd nights of the last ten days of Ramadhan." (Bukhari)
Hazrat Aisha Radiallah Anha stated that as much Rasool Allah peace be upon him tried (Ibadat) in the last Ashra (ten days) of Ramadhan, did not try in any of the Ashra." (Muslim)
Hazrat Aisha Radiallah Anha stated that I asked Rasool Allah peace be upon him, "If I find Lailatul Qadar then what should I do? HE peace be upon him said, recite this Dua."ALLAH HUMMA INNAKA A’FUVUN TOHIB BUL AFVA FA’AFU ANNI" (Tirmidhi)
Dear visitors, please take advantage of this night, from sunset till sunrise. Offer nawafil (prayers), recite QUR'AAN, do repent (Istaghfar), and Pray for pardon, recite many many Salawat (Darood Sharif & Salaam) and make benediction (Dua'as).
Special DU’AA of Lailatul QADR:
"ALLAH HUMMA INNAKA A’FUVUN TOHIB BUL AFVA FA’AFU ANNI" (Tirmidhi)
"O Allah! You are the Forgiver and You like forgiving so forgive me”
21st Night of Ramadhan-Ul-Mubarak - 1st night of Laitlat-Ul-Qadr
1) Pray 4 cycles of ritual prayer (raka’t) (2 cycles of 2 raka' each).
In each raka', after Surah FATIHA recite Surah QADR (Inna anzalna .. )once and Surah IKHLAS (Qul-hu-wal-lah..) once. After completion recite SALAAT-O-SALAAM (Durood Sharif) seventy (70) times. Click here for Durood page.
Benefit: Insha Allah, Angels will pray for forgivenss for that person.
2) Offer 2 cycles of ritual prayer (raka’t)
In each raka', after Surah FATIHA, recite Surah QADR once and Surah IKHLAS three times. After completion of this salah, recite any Astaghfar seventy times.
Astaghfar: "Allah Hummagh Fir Li Wa Tub A'laiyya Inna Ka Innta Tawwabur Raheem" OR "Astaghfirullah Rabbi Min Kulli Zambiyon Wa Atoobu ilaiyh"
Benefit: Effective for forgivness of sins.
3) In this night (21st), recite Surah QADR 21 times.
23rd Night of Ramadhan-Ul-Mubarak - 2nd night of Laitlat-Ul-Qadr
1) Offer 4 cycles of ritual prayer (raka’t) (2 sets of 2 raka’ each)
In each raka', after Surah FATIHA, recite Surah QADR once and Surah IKHLAS three times.
Benefit: Effective for forgivness of sins.
2) Offer 8 cycles of ritual prayer (raka’) (4 sets of 2 raka’ each)
In each raka', after Surah FATIHA, recite Surah QADR and Surah IKHLAS once. After completion of this salah (namaaz) recite the third kalima (Kalima Tamjeed) 70 times. After that, plead to Allah Almighty for forgiveness of sins.
Kalima Tamjeed: "Subhan Allahi Wal Hamdu Lillahi Wa La ilaaha illal laho Walla Hu Akbar.Wala Haowla Wala Quwwata illa Billa Hil Aliyil Azeem". Click here for Arabic text of Kalima Tamjeed.
Benefit: Allah Willing (Insha’Allah), Allah will forgive whoever performs this prayer
3) In the 23rd night recite Surah YAASEEN once and Surah RAHMAAN once.
25th Night of Ramadhan-Ul-Mubarak - 3rd night of Laitlat-Ul-Qadr
1) In this night offer 4 cycles of ritual prayer (raka’t) (2 sets of 2 raka’ each)
After Surah FATIHA, recite Surah QADR one time and Surah IKHLAS five times in each raka’. After completion of this salat recite the first Kalima Tayyab 100 times.
Kalima Tayyab: "Laa ilaaha illal Laho Mohammadur Rasoolullah". Click here for Arabic text of Kalima Tayyab.
Benifit: Insha Allah, Allah Tala will give him/her unlimited Sawab (good Deeds)
2) Offer 4 cycles of ritual prayer (raka’) (2 sets of 2 raka’ each)
In each raka’, after Surah FATIHA, recite Surah QADR three times and Surah IKHLAS three times. After completion of this salah, recite any Astaghfar 70 times.
Astaghfar: "Allah Hummagh Fir Li Wa Tub A'laiyya Inna Ka Innta Tawwabur Raheem" OR "Astaghfirullah Rabbi Min Kulli Zambiyon Wa Atoobu ilaiyh"
Benefit: This salat is good for the pardoning of sins.
3.Offer two cycles of ritual prayer (raka’).
In each raka', after Surah FATIHA, recite Surah QADR once and Surah IKHLAS fifteen times. After Salat, recite the second Kalima (Kalima-e-Shahaadat) 70 times.
Kalima Shaadat: "Ashadu Anlaa ilaaha illal Lahu Wa Ash Hadu Anna Mohammadan Abduhu Wa Rasoolohu". Click here for Arabic text of Kalima Shaadat.
Benefit: The reward of this namaaz is freedom from the punishment of the grave.
4) Recite Surah Dukhan. Allah Willing (Insha’Allah) they will be granted freedom from the punishment of grave.
5) Recite Surah Fath seven times. Beneficial for the fulfillment of desires and wishes.
27th Night of Ramadhan-Ul-Mubarak - 4th night of Laitlat-Ul-Qadr
1) In the 27th night, pray 12 cycles of ritual prayer (raka’) (3 set of 4 raka’ each)
In each raka’, after Surah FATIHA, recite Surah QADR once and Surah IIKHLAS fifteen times. After salah recite any Astaghfar 70 times.
Astaghfar: "Allah Hummagh Fir Li Wa Tub A'laiyya Inna Ka Innta Tawwabur Raheem" OR "Astaghfirullah Rabbi Min Kulli Zambiyon Wa Atoobu ilaiyh"
Benefit: Inhsa Allah, Allah tala will give sawab equal to Ibadah of Ambiya Karam's (Messengers of Allah) Ibadah.
2) Pray two cycles of ritual prayer (raka’).
In each raka’, after Surah FATIHA recite Surah QADR 3 times and Surah IKHLAS 27 times, and plead to Allah for the forgiveness of sins.
Benefit: Allah Willing (Insha’Allah), the Allah Almighty will forgive all their previous sins.
3) Pray four cycles of ritual prayer (raka’). (2 sets of 2 raka’ each).
In each raka’, after Surah FATIHA, recite Surah TAKAASUR once and Surah IKHLAS three times.
Benefit: Whoever offers this salah, they will be saved from hardship at the time of death, and Allah Willing (Insha’Allah), they will be freed from the punishment of the grave.
4) Pray two cycles of ritual prayer (raka’).
In each raka’, after Surahh FATIHA, recite Surah IKHLAS seven times and after salah recite this seventy times:
"ASTAGHFIRUL LAA HAL AZEEMAL LAZEE LAA ILAAHA ILLA HUWAL HAIY YUL QAYYOOMU WA ATOOBU ILAIH"
Benfit: Before the person gets up from the praying area, Allah Almighty will pardon them and their parents, and Allah Almighty will Command the angels to adorn the Paradise for them and it is said that they will not die until they see the blessings (ne'mat) of Paradise with their own eyes.
5) Pray two cycles of ritual prayer (raka’).
In each raka’, after Surah FATIHA, recite Surah ALAM’NASHRAH once, Surah IKHLAS three times and after salah, recite Surah QADR 27 times.
Benefit: Effecive for unlimited Sawab of Ibadah.
6) Pray four cycles of ritual prayer (raka’). (1 set of 4 raka’).
In each raka’, after Surah FATIHA' recite Surah QADR three times and Surah IKHLAS fifty times and after completion of this salah (namaaz), recite this once in prostration (sajdah):
"SUBHAAN ALLAAHI WAL HAMDU LILLAAHI WALAA ILAAHA ILLAL LAAHU WALLAA HU AKBAR"
Benefit: After that whatever wish one may have, either worldly or religious, may be pleased. Allah Willing (Insha’Allah), their supplication will be fulfilled.
7) In this night, recite Surah Mulk 7 times. It is good for freeing from punishment.
29th Night of Ramadhan-Ul-Mubarak - 5th night of Laitlat-Ul-Qadr
1) Pray four cycles of ritual prayer (raka’). (2 sets of 2 raka’ each).
In every raka’, after Surah FATIHA recite Surah QADR once and Surahh IKHLAS three times. After salah, recite Surah ALAM’NASHRAH 70 times.
Benefit: Efective for the completion of Imaan.
2) Offer four cycles of ritual prayer (raka’). (2 sets of 2 raka’ each).
In each raka’, after Surah FATIHA, recite Surah QADR once and Surah IKHLAS five times. After salah, recite SALAAT-O-SALAAM (Darood Sharif) 100 times. Click here for Durood page.
Benefit: Effective for forgiveness of sins.
3) Recite Surah WAAQIAH seven times. Beneficial for increase in Rizq.
In any night of RAMAZAN-UL-MUBARAK, after taraavih recite Surah QADR seven times. Allah Willing (Insha’Allah), the one who does so, will be saved from all troubles and afflictions.
On this great night it's of great benefit to perform Salat-Ul-Tasbih. Click here for instructions to perform Salat-ul-Tasbih
Hazrat Aisha Radiallah Anha stated that Rasool Allah peace be upon him said, "Look for Lailat-Ul-Qadr in the odd nights of the last ten days of Ramadhan." (Bukhari)
Hazrat Aisha Radiallah Anha stated that as much Rasool Allah peace be upon him tried (Ibadat) in the last Ashra (ten days) of Ramadhan, did not try in any of the Ashra." (Muslim)
Hazrat Aisha Radiallah Anha stated that I asked Rasool Allah peace be upon him, "If I find Lailatul Qadar then what should I do? HE peace be upon him said, recite this Dua."ALLAH HUMMA INNAKA A’FUVUN TOHIB BUL AFVA FA’AFU ANNI" (Tirmidhi)
Dear visitors, please take advantage of this night, from sunset till sunrise. Offer nawafil (prayers), recite QUR'AAN, do repent (Istaghfar), and Pray for pardon, recite many many Salawat (Darood Sharif & Salaam) and make benediction (Dua'as).
Special DU’AA of Lailatul QADR:
"ALLAH HUMMA INNAKA A’FUVUN TOHIB BUL AFVA FA’AFU ANNI" (Tirmidhi)
"O Allah! You are the Forgiver and You like forgiving so forgive me”
21st Night of Ramadhan-Ul-Mubarak - 1st night of Laitlat-Ul-Qadr
1) Pray 4 cycles of ritual prayer (raka’t) (2 cycles of 2 raka' each).
In each raka', after Surah FATIHA recite Surah QADR (Inna anzalna .. )once and Surah IKHLAS (Qul-hu-wal-lah..) once. After completion recite SALAAT-O-SALAAM (Durood Sharif) seventy (70) times. Click here for Durood page.
Benefit: Insha Allah, Angels will pray for forgivenss for that person.
2) Offer 2 cycles of ritual prayer (raka’t)
In each raka', after Surah FATIHA, recite Surah QADR once and Surah IKHLAS three times. After completion of this salah, recite any Astaghfar seventy times.
Astaghfar: "Allah Hummagh Fir Li Wa Tub A'laiyya Inna Ka Innta Tawwabur Raheem" OR "Astaghfirullah Rabbi Min Kulli Zambiyon Wa Atoobu ilaiyh"
Benefit: Effective for forgivness of sins.
3) In this night (21st), recite Surah QADR 21 times.
23rd Night of Ramadhan-Ul-Mubarak - 2nd night of Laitlat-Ul-Qadr
1) Offer 4 cycles of ritual prayer (raka’t) (2 sets of 2 raka’ each)
In each raka', after Surah FATIHA, recite Surah QADR once and Surah IKHLAS three times.
Benefit: Effective for forgivness of sins.
2) Offer 8 cycles of ritual prayer (raka’) (4 sets of 2 raka’ each)
In each raka', after Surah FATIHA, recite Surah QADR and Surah IKHLAS once. After completion of this salah (namaaz) recite the third kalima (Kalima Tamjeed) 70 times. After that, plead to Allah Almighty for forgiveness of sins.
Kalima Tamjeed: "Subhan Allahi Wal Hamdu Lillahi Wa La ilaaha illal laho Walla Hu Akbar.Wala Haowla Wala Quwwata illa Billa Hil Aliyil Azeem". Click here for Arabic text of Kalima Tamjeed.
Benefit: Allah Willing (Insha’Allah), Allah will forgive whoever performs this prayer
3) In the 23rd night recite Surah YAASEEN once and Surah RAHMAAN once.
25th Night of Ramadhan-Ul-Mubarak - 3rd night of Laitlat-Ul-Qadr
1) In this night offer 4 cycles of ritual prayer (raka’t) (2 sets of 2 raka’ each)
After Surah FATIHA, recite Surah QADR one time and Surah IKHLAS five times in each raka’. After completion of this salat recite the first Kalima Tayyab 100 times.
Kalima Tayyab: "Laa ilaaha illal Laho Mohammadur Rasoolullah". Click here for Arabic text of Kalima Tayyab.
Benifit: Insha Allah, Allah Tala will give him/her unlimited Sawab (good Deeds)
2) Offer 4 cycles of ritual prayer (raka’) (2 sets of 2 raka’ each)
In each raka’, after Surah FATIHA, recite Surah QADR three times and Surah IKHLAS three times. After completion of this salah, recite any Astaghfar 70 times.
Astaghfar: "Allah Hummagh Fir Li Wa Tub A'laiyya Inna Ka Innta Tawwabur Raheem" OR "Astaghfirullah Rabbi Min Kulli Zambiyon Wa Atoobu ilaiyh"
Benefit: This salat is good for the pardoning of sins.
3.Offer two cycles of ritual prayer (raka’).
In each raka', after Surah FATIHA, recite Surah QADR once and Surah IKHLAS fifteen times. After Salat, recite the second Kalima (Kalima-e-Shahaadat) 70 times.
Kalima Shaadat: "Ashadu Anlaa ilaaha illal Lahu Wa Ash Hadu Anna Mohammadan Abduhu Wa Rasoolohu". Click here for Arabic text of Kalima Shaadat.
Benefit: The reward of this namaaz is freedom from the punishment of the grave.
4) Recite Surah Dukhan. Allah Willing (Insha’Allah) they will be granted freedom from the punishment of grave.
5) Recite Surah Fath seven times. Beneficial for the fulfillment of desires and wishes.
27th Night of Ramadhan-Ul-Mubarak - 4th night of Laitlat-Ul-Qadr
1) In the 27th night, pray 12 cycles of ritual prayer (raka’) (3 set of 4 raka’ each)
In each raka’, after Surah FATIHA, recite Surah QADR once and Surah IIKHLAS fifteen times. After salah recite any Astaghfar 70 times.
Astaghfar: "Allah Hummagh Fir Li Wa Tub A'laiyya Inna Ka Innta Tawwabur Raheem" OR "Astaghfirullah Rabbi Min Kulli Zambiyon Wa Atoobu ilaiyh"
Benefit: Inhsa Allah, Allah tala will give sawab equal to Ibadah of Ambiya Karam's (Messengers of Allah) Ibadah.
2) Pray two cycles of ritual prayer (raka’).
In each raka’, after Surah FATIHA recite Surah QADR 3 times and Surah IKHLAS 27 times, and plead to Allah for the forgiveness of sins.
Benefit: Allah Willing (Insha’Allah), the Allah Almighty will forgive all their previous sins.
3) Pray four cycles of ritual prayer (raka’). (2 sets of 2 raka’ each).
In each raka’, after Surah FATIHA, recite Surah TAKAASUR once and Surah IKHLAS three times.
Benefit: Whoever offers this salah, they will be saved from hardship at the time of death, and Allah Willing (Insha’Allah), they will be freed from the punishment of the grave.
4) Pray two cycles of ritual prayer (raka’).
In each raka’, after Surahh FATIHA, recite Surah IKHLAS seven times and after salah recite this seventy times:
"ASTAGHFIRUL LAA HAL AZEEMAL LAZEE LAA ILAAHA ILLA HUWAL HAIY YUL QAYYOOMU WA ATOOBU ILAIH"
Benfit: Before the person gets up from the praying area, Allah Almighty will pardon them and their parents, and Allah Almighty will Command the angels to adorn the Paradise for them and it is said that they will not die until they see the blessings (ne'mat) of Paradise with their own eyes.
5) Pray two cycles of ritual prayer (raka’).
In each raka’, after Surah FATIHA, recite Surah ALAM’NASHRAH once, Surah IKHLAS three times and after salah, recite Surah QADR 27 times.
Benefit: Effecive for unlimited Sawab of Ibadah.
6) Pray four cycles of ritual prayer (raka’). (1 set of 4 raka’).
In each raka’, after Surah FATIHA' recite Surah QADR three times and Surah IKHLAS fifty times and after completion of this salah (namaaz), recite this once in prostration (sajdah):
"SUBHAAN ALLAAHI WAL HAMDU LILLAAHI WALAA ILAAHA ILLAL LAAHU WALLAA HU AKBAR"
Benefit: After that whatever wish one may have, either worldly or religious, may be pleased. Allah Willing (Insha’Allah), their supplication will be fulfilled.
7) In this night, recite Surah Mulk 7 times. It is good for freeing from punishment.
29th Night of Ramadhan-Ul-Mubarak - 5th night of Laitlat-Ul-Qadr
1) Pray four cycles of ritual prayer (raka’). (2 sets of 2 raka’ each).
In every raka’, after Surah FATIHA recite Surah QADR once and Surahh IKHLAS three times. After salah, recite Surah ALAM’NASHRAH 70 times.
Benefit: Efective for the completion of Imaan.
2) Offer four cycles of ritual prayer (raka’). (2 sets of 2 raka’ each).
In each raka’, after Surah FATIHA, recite Surah QADR once and Surah IKHLAS five times. After salah, recite SALAAT-O-SALAAM (Darood Sharif) 100 times. Click here for Durood page.
Benefit: Effective for forgiveness of sins.
3) Recite Surah WAAQIAH seven times. Beneficial for increase in Rizq.
In any night of RAMAZAN-UL-MUBARAK, after taraavih recite Surah QADR seven times. Allah Willing (Insha’Allah), the one who does so, will be saved from all troubles and afflictions.
On this great night it's of great benefit to perform Salat-Ul-Tasbih. Click here for instructions to perform Salat-ul-Tasbih
