Your gateway to comprehensive financial knowledge with more than 2000 financial and economic terms
Most searched terms
Assets Ownership Transfer
A contractual arrangement related to Infrastructure or Public Services that results in transferring ownership of an asset from a government entity to a Private Party.
Digital Economy
An economy that relies on digital technology and the internet to conduct business and financial transactions. It includes activities such as e-commerce, digital payments, cloud services, and the use of data and artificial intelligence to improve processes, including e-commerce, online services, and fintech.
High Order
A document that is not bound by a specific format or structure, bearing the signature of the King in his capacity as Prime Minister, and which may also be issued by the First or Second Deputy Prime Minister when either of them presides over the council. Such royal orders typically relate to matters that serve the interests of citizens. Perhaps the closest example of this is the decision issued yesterday to allow women to drive.
Settlement
An accounting process that compares two sets of records to check that figures are correct and in agreement. It aims at correcting the sums that are wrongly spent on a budget item and to direct it to the correct account or settle the amounts of the custodies and advances when they are activated or replaced.
Value Added Tax (VAT)
An indirect tax imposed on all goods and services that are bought and sold on a regular and continuous basis by persons subject to tax, with some exceptions. The value-added tax is imposed at every stage of production, starting from distribution until the stage of sale to the consumer. VAT is obligatory to every individual or company that practices an economic activity if the value of his annual taxable revenues exceeds 375,000 SAR.
Initial Request of Government Bodies’ Budget
Initial government bodies budget that is received from the electronic budget system and that is prepared in accordance with government financial statistics including items, expenses, workers, compensation, operating disbursements and capital expenditures in accordance with the limit amount for each government body.
Life Insurance Contract
Any contract of conventional insurance or Takaful or another form of Islamic insurance provided by a regulated provider in the KSA which results in the payment of a sum contingent on death or another significant event of human life, or a similar contract provided by a non-resident supplier.
Capitalization of Expenses
Expenses that lead to increasing the value of capital assets and extending their useful life, if applicable.
Issuance Program
A program under which a single prospectus under the Rules on the Offer of Securities and Continuing Obligations is produced pursuant to which a number of debt instruments or convertible debt instruments may be issued in the future, as stated in the prospectus.
Audit Program
A detailed set of procedures and instructions followed by auditors during the audit process, specifying steps to examine financial records.
Medium-Term Debt Strategy
Outlines a plan for managing and structuring an organization's debt over a medium-term.
Convertible Debt Instrument
A debt instrument whose holder has the right to convert it into shares of the company issuing that instrument.
Visitors
Searches