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…
What are Cloud Services? Cloud services are a range of IT applications and resources that include software, infrastructure, and platforms hosted by third-party providers and delivered on-demand to organizations and individual customers through the internet. They can also be referred to as cloud computing; hence the words can be used interchangeably. Cloud services rely on…
What is an Interest Rate Floor? An interest rate floor is the lower range of rates that is agreed upon, when a floating rate loan product is purchased from a lending institution. They are also found in many derivative products and are often used when calculating and projecting risk. When traders or borrowers seek to…
What are Interest Rate Options? Interest rate options are a type of derivative that is based on the value of interest rates. They are generally tied to interest rate products like Treasury notes. Interest rate options are generally traded on exchanges like the CME Group and are packaged as different types of products. There are…
