List of Commerce Abbreviations
Check essential commerce abbreviations with clear definitions and applications. This article covers key terms aiding effective communication in business and financial contexts.
Mridula Sharma16 Sept, 2024
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Commerce Abbreviations play an essential role by simplifying discussion within the business and financial sectors. They serve as concise representations of complex terms, concepts, or categories, increasing the effectiveness of documentation, communication, and financial reporting.
To utilize commerce abbreviations effectively, individuals and businesses should be familiar with those important to their industry, keeping uniformity and accuracy in their usage. It's also important to stay updated about any new or novel abbreviations within their field.Commerce Abbreviations
Commerce abbreviations streamline business communication and documentation by providing concise terms for complex concepts. Examples include FDI (Foreign Direct Investment), which refers to investments made by foreign entities in another country’s business interests, and ECB (External Commercial Borrowing), which denotes loans in foreign currencies from non-resident lenders. GST (Goods and Services Tax) simplifies taxation by consolidating various taxes into a single system, impacting industries broadly. IPO (Initial Public Offering) marks a company's transition to public ownership. These abbreviations, among others like CPI (Consumer Price Index) and STT (Securities Transaction Tax), play crucial roles in business operations and financial reporting.40 Important Commerce Abbreviations
The list of the 40 most important commerce abbreviations has been prepared and presented in the below tables in alphabetical order. These commerce abbreviations focus on different student levels, from schools to colleges. Go through all the tables to learn the most important commerce abbreviations.| Commerce Abbreviations | ||
|---|---|---|
| Abbreviation | Full Form | Description |
| ASBA | Application Supported by Blocked Amount | An application mechanism for subscribing to initial public offerings (IPOs), with funds remaining blocked until allotment. |
| ASSOCHAM | Associated Chambers of Commerce and Industry of India | A leading trade association in India, representing various industries and promoting economic growth. |
| BEP | Break Even Point | The point at which total revenue equals total costs, resulting in neither profit nor loss. |
| BIS | Bureau of Indian Standards | The national standards organization of India, responsible for developing and promoting quality standards. |
| BSR | Basic Statistical Return | A form used by banks to report statistical information on deposits and advances to the Reserve Bank of India. |
| CCS | Cash Compensatory Scheme | A scheme in India to compensate exporters for high export costs. |
| CIF | Cost Insurance and Freight | A trade term indicating that the seller is responsible for the cost, insurance, and freight of delivering goods to a destination port. |
| CII | Confederation of Indian Industries | A leading industry association in India focused on enhancing competitiveness and fostering economic growth. |
| COGS | Cost of Goods Sold | The direct costs incurred in producing goods sold by a company. |
| CPI | Consumer Price Index | Measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. |
| CPU | Cost Per Unit | The cost incurred to produce a single unit of a product. |
| CSR | Corporate Social Responsibility | A business approach that contributes to sustainable development by addressing social and environmental concerns. |
| DICGC | Deposit Insurance and Credit Guarantee Corporation of India | Provides insurance on deposits in Indian banks, safeguarding depositors' interests. |
| DISC | Discount | Refers to a reduction in the original price of a product or service. |
| ECB | External Commercial Borrowing | Loans in foreign currency from non-resident lenders, including commercial banks and financial institutions. |
| FDI | Foreign Direct Investment | Investment made by a foreign entity in the business interests of another country. |
| FCCB | Foreign Currency Convertible Bond | A type of corporate bond issued by an Indian company in a foreign currency, convertible into equity shares. |
| FICCI | Federation of Indian Chambers of Commerce and Industry | An industry association in India that promotes business and economic growth. |
| FOB | Freight on Board | A trade term indicating that the seller is responsible for the cost of delivering goods to a specified port of shipment. |
| FOC | Free of Cost | Indicates that something is provided without charge. |
| GATT | General Agreement for Trade and Tariff | A multilateral agreement regulating international trade until it was replaced by the World Trade Organization (WTO). |
| GDR | Global Depositary Receipt | A financial instrument representing shares in a foreign company, traded on international stock exchanges. |
| GP | Gross Profit | A company's revenue minus its cost of goods sold, providing a measure of profitability. |
| IFCI | Industrial Finance Corporation of India | A financial institution in India that provides long-term finance to industrial projects. |
| IMF | International Monetary Fund | An international organization promoting global monetary cooperation and exchange rate stability. |
| INC. | Incorporated | Indicates that a company is incorporated. |
| IPO | Initial Public Offering | The first sale of stock by a company to the public, marking its transition from private to public ownership. |
| LLP | Limited Liability Partnership | A business organization combining elements of partnerships and corporations, providing limited liability to its partners. |
| MRTP | Monopoly and Restrictive Trade Practices | Refers to a set of laws in India regulating monopolies and restrictive trade practices. |
| NAV | Net Asset Value | The per-share market value of all the securities held by a mutual fund. |
| NOC | Net Operating Income | The net income generated from a company's normal business operations. |
| NYSE | New York Stock Exchange | The largest stock exchange in the world, located in New York City. |
| OLTAS | Online Tax Accounting System | An online platform for the centralization of direct tax collections in India. |
| PAN | Permanent Account Number | A unique identification number assigned to individuals and entities for income tax purposes in India. |
| RTP | Reverse Tranche Position | A reserve position in the IMF where a country can receive funds in exchange for its own currency. |
| STT | Securities Transaction Tax | A tax levied on the value of securities transacted through recognized stock exchanges in India. |
| TAN | Tax Deduction and Collection Account Number | A unique 10-digit alphanumeric code issued to entities responsible for deducting and collecting taxes. |
| TDS | Tax Deduction at Source | A mechanism where tax is deducted at the point of origin of income, ensuring a regular inflow to the government. |
| TIN | Tax Information Network | A system to streamline and modernize the direct tax collection process in India. |
| VAT | Value Added Tax | A consumption tax levied at each stage of the production and distribution chain, with the end consumer ultimately bearing the tax burden. |
| Read Related Topics | |
| Capital Reserve | Statutory Audit |
| Deficit Financing | Indifference Curve |
| Discharge of Contract | Suit for Damages |
| Reverse Repo Rate | Functions of Marketing |
Commerce Abbreviations FAQs
What does UNCTAD stand for?
The UNCTAD means the United Nations Conference on Trade and Development.
What is the full meaning of NOS?
NOT OTHERWISE Specified is the full form of NOS
In accounting, what does SQM stand for?
SQM stands for Quality Management Standard.
What exactly does TIN stand for?
The Tax Information Network is abbreviated as TIN.
What is the full form of TDS in commerce?
TDS stands for Tax Deduction at Source.
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