What is Data Integrity? Data integrity is a process or a set of practices that ensures the security, accuracy, and overall quality of data. It is a broad concept that includes cybersecurity, physical safety, and database management. The following diagram summarizes the main components of data integrity: Physical Safety Physical safety ensures that the devices…
What are SQL Data Types? The Structured Query Language (SQL) comprises several different data types that allow it to store different types of information in a database. SQL data types assist in the data validation process and are essential to the mechanics of the database engine. SQL comes in different dialects, and each dialect shares…
What is Structured Query Language (SQL)? Structured Query Language (known as SQL) is a programming language used to interact with a database. Specifically, SQL is used to interact with a Relational Database Management System (RDBMS). In an RDBMS, related tables are connected with relationships that link matching columns known as keys. SQL is almost certainly…
What is Data Validation? Data validation refers to the process of ensuring the accuracy and quality of data. It is implemented by building several checks into a system or report to ensure the logical consistency of input and stored data. In automated systems, data is entered with minimal or no human supervision. Therefore, it is…
What are Python Variables? Like other programming languages, Python variables allow us to store or assign a value to a variable name. It helps in applying programming logic to a variety of inputs. The article below will review how to define variables in Python, the correct syntax, and run simple experiments. By doing so, we…
What is the Interbank Market? As the name suggests, the interbank market is a market where foreign currency is traded between large, privately held banks. The interbank market is what people refer to when talking about the currency market. It is built of large currency trades above $1 million, e.g., CAD/USD or USD/JPY. However, the…
What is Insurable Interest? Insurable interest is an investment with the intent to protect the purchaser from financial loss. It is a fundamental prerequisite for any insurance policy. Any person, item, event, or action can have insurable interest if its loss or damage results in a financial burden. Understanding Insurable Interest Generally, insurable interest is…
What is the Institute for Management Accountants (IMA)? The Institute for Management Accountants (IMA) is an organization that provides finance and accounting professionals with education and development opportunities. The organization strives to help certify, connect, develop, and support the world’s best accountants and finance professionals. The IMA is best known for the Certified Management Accountant…
What is Inflation Accounting? Inflation accounting is used during times of increasing or plummeting prices in certain areas of the world, usually with respect to multinational corporations and their financial reporting. Most often, it is seen in countries with high inflation. As a result, some accounting standards boards and countries permit or require the companies…
What is the Industrial Revolution? The Industrial Revolution started around 1760 and ended between 1820 and 1840. It originally began in Europe and slowly shifted over to the United States in the early 1800s. The latter half of the 18th century saw massive changes in the production of goods. Manufacturers were turning away from hand…
