Rapid Review

• Accounting equation: assets $=$ liabilities $+$ equity. Nepal’s fiscal year runs from Shrawan through Ashad.

• Cost model: $TC=FC+vQ$; contribution per unit is $P-v$; $BEP=FC/(P-v)$.

• Time value: $F=P(1+i)^n$ and $P=F/(1+i)^n$; match rate and period.

• Decision rules: independent project: $NPV>0$, IRR above required return, or consistently calculated $BCR>1$ supports acceptance.

• FIRR uses project/investor financial flows; EIRR uses economic values and material social effects.

• Trial balance: debit equals credit, but equality does not prove absence of omission, principle, commission, original-entry, or compensating errors.

• Statements: income statement covers a period; balance sheet is a date snapshot.

• Depreciation: straight line is $(C-S)/n$; declining balance and SOYD accelerate expense into earlier years.

• Incoterms: distinguish delivery, cost, and risk. CIF includes seller-procured insurance, but risk still transfers on board at origin.

• Securities: LC supports documentary payment; bid, performance, and advance guarantees protect different obligations.

• Public bidding: plan $\rightarrow$ documents $\rightarrow$ invite $\rightarrow$ receive/open $\rightarrow$ evaluate $\rightarrow$ award $\rightarrow$ sign. Select the lowest evaluated responsive bid where applicable.

• Consultancy: QCBS balances quality and cost; QBS, LCS, FBS, and ICS suit different assignment conditions.