Business Glossary
Clear, concise definitions of key business terms in payroll, finance, HR, compliance, and outsourcing. Your reference guide from MYND's domain experts.
Showing 10 terms starting with "B"
Clear filterBackground Verification (BGV)
Background Verification (BGV) Background Verification (BGV) , also known as pre-employment screening or due diligence , is a process undertaken by employers to investigate and confirm the accuracy of...
View definitionBalance Sheet
Balance Sheet: A Snapshot of a Company’s Financial Health The balance sheet is one of the three core financial statements, alongside the income statement and cash flow statement , that companies...
View definitionBank Reconciliation
Bank Reconciliation A Bank Reconciliation is a process used to compare and verify the accuracy of the financial records of a business, specifically its cash balance, with the corresponding records...
View definitionBasic Salary
Basic Salary: The Foundation of Compensation In the realm of employment, Basic Salary refers to the fixed, regular amount of remuneration paid to an employee by an employer in exchange for services...
View definitionBiometric Attendance
Biometric Attendance Systems A biometric attendance system is a technology that uses unique physiological or behavioral characteristics of individuals to record and verify their attendance.
View definitionBook Keeping
Bookkeeping: The Foundation of Financial Understanding Bookkeeping is the systematic process of recording, classifying, and summarizing financial transactions for a business or individual.
View definitionBPO (Business Process Outsourcing)
Business Process Outsourcing (BPO) Business Process Outsourcing (BPO) refers to the practice of contracting a specific work process or task to an external third-party service provider.
View definitionBudget vs Actual
Budget vs.
View definitionBusiness Intelligence
Business Intelligence Business Intelligence (BI) is a technology -driven process for analyzing data and presenting actionable information to help executives, managers, and other users make more...
View definitionBusiness Valuation
Business Valuation Business valuation is the process of determining the economic value of a business or a business interest.
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