Table of Contents
Commerce means the exchange of goods and services, especially on a large scale between the economic agents. This word Commerce has been derived from the Latin word commercium, which means – com means together and merx means merchandise. Nations administer commerce that will be for enhancing the well-being of citizens, by providing jobs and producing beneficial goods and services, thus make the nation prosper. But if left unchecked or unregulated, this may lead to negative externalities. Here in the article readers can check the Commerce related abbreviations used in common.
In the present scenario, commerce normally refers to the macroeconomic purchases and sales of goods and services by large corporations at scale. The sale or purchase of a single item by a consumer is defined as a transaction, while commerce refers to all transactions related to the purchase and sale of that item in an economy. Companies of all forms can join in international commerce. Most commerce is conducted internationally and outlines the buying and merchandising of goods between nations.
Now, the view of commerce has expanded to embrace electronic commerce (e-commerce) in the 21st century. Presently e-commerce defines any business or commercial undertaking that includes the transfer of financial information over the Internet. This platform allows individual consumers to exchange value for goods and services with little to no barriers.
Father of Commerce
- Father of commerce – Poseidon (as per the Greek mythology)
- Father of Indian Commerce (e-commerce) – K Vaitheeswaran
GK and Current Affairs Topic-wise notes and Updates
List of Commerce Related Abbreviations
Terms with Letter A
| Terms of Commerce | Abbreviations |
| 1st Half | 1H |
| 24 hours a day OR seven days a week | 24/7 |
| Application Supported by Blocked Amount | ASBA |
| American Depositary Receipt | ADR |
| Artificial Intelligence | AI |
| Account manager | AM |
| Adjusted Operating Profit | AOP |
| Annual Operating Plan | AOP |
| Accounts payable | AP |
| Accounts receivable | AR |
| Associated Chambers of Commerce and Industry of India | ASSOCHAM |
Terms with Letter B
| Terms of Commerce | Abbreviations |
| Break-Even Point | BEP |
| Bureau of Indian Standards | BIS |
| Brief Project Report | BPR |
| Bank Payment Voucher | BPV |
| Business Model Canvas | BMC |
| Bill of Materials | BOM |
| Basic Statistical Return | BSR |
| Business Recovery Unit | BRU |
| Business Process Outsourcing | BPO |
| Bank Receipt Voucher | BRV |
| By the way | BTW |
| Business Requirements Document | BRD |
Terms with Letter C
| Terms of Commerce | Abbreviations |
| Certified Public Accountant | CPA |
| Cost Volume Profit | CVP |
| Consumer Price Index | CPI |
| Capital asset pricing model | CAPM |
| Customer Relationship Management | CRM |
| Chicago Board of Trade | CBOT |
| Cost Insurance and Freight | CIF |
| Call to action | CTA |
| Capital Expenditure | CAPEX |
| Chief Technology Officer | CTO |
| Chicago Board Options Exchange | CBOE |
| Customer Experience | CX |
| Any chief officer(s), x is a placeholder | CXO |
| Change and Data Management | CDM |
| Cost of Goods Sold | COGS |
| Cash Compensatory Scheme | CCS |
| Collateralized debt obligation or Chief Data Officer | CDO |
| Cost Per Unit | CPU |
| Credit default swap | CDS |
| Chart of Account | COA |
| Corporate Social Responsibility | CSR |
| Chartered Financial Analyst | CFA |
| Chief executive officer | CEO |
| Cost and Freight | C&F |
| Confederation of Indian Industries | CII |
Terms with Letter D
| Terms of Commerce | Abbreviations |
| Deposit Insurance and Credit Guarantee Corporation of India | DICGC |
| Discount | DISC |
| Desktop Publishing | DTP |
| Delivery service provider | DSP |
| Days Sales Outstanding | DSO |
| Depositary receipt | DR |
| Days Payable Outstanding | DPO |
| Depending on Experience | DOE |
| Delivery versus payment | DVP |
Terms with Letter E
| Terms of Commerce | Abbreviations |
| Earnings before interest and taxes and amortization | EBITA |
| Earnings before Interest, Taxes, Depreciation, and Amortization | EBITDA |
| Effective Annual Yield | EAY |
| Effective annual rate | EAR |
| External Commercial Borrowing | ECB |
| Electronic Data Interchange | EDI |
| End of day | EOD |
| End of business | EOB |
| Export | EXP |
| Electronic Funds Transfer at Point of Sale | EFTPOS |
| European Central Bank | ECB |
| European Financial Stabilisation MechanisM | EFSM |
| Earnings per share | EPS |
| End of Message | EOM |
| Enterprise Resource Planning | ERP |
| Estimated Time of Departure or Estimated Time of Delivery | ETD |
| Estimated Time of Arrival | ETA |
| Electronic Clearing Service or Electronic Clearing System | ECS |
| Equated Monthly Installment | EMI |
Terms with Letter F
| Terms of Commerce | Abbreviations |
| Federation of Indian Chambers of Commerce and Industry | FICCI |
| Foreign Currency Convertible Bond | FCCB |
| FI Financial Institution | FI |
| FEMA Foreign Exchange Management Act | FEMA |
| Foreign Institutional Investors | FII |
| Follow on public offer | FPO |
| Foreign Direct Investment | FDI |
| Financial Information Exchange | FIX |
| Future Value | FV |
| Free of Cost | FOC |
| Foreign exchange market | FX |
| Fiscal year or financial year | FY |
| Follow-Up | F/U |
| For Your Action | FYA |
| Financial Services Authority | FSA |
| freight on Board | FOB |
| For Your Information | FYI |
| Full-Time Equivalent | FTE |
Terms with Letter G
| Terms of Commerce | Abbreviations |
| General Data Protection Regulation | GDPR |
| Gross Domestic Product | GDP |
| Generally Accepted Accounting Principles | GAAP |
| Generally Accepted Audit Standards | GAAS |
| General Ledger | GL |
| General Agreement for Trade and Tariff | GATT |
| Gross fixed capital formation | GFCF |
| Global depository receipt | GDR |
| Group purchasing organization | GPO |
| Gross Profit | GP |
| Gross Merchandise Volume | GMV |
| Global Depositary Receipt | GDR |
Terms with Letter H
| Terms of Commerce | Abbreviations |
| Human Resources | HR |
| Human Resource Development | HRD |
| Headquarters | HQ |
| Her Majesty’s Revenue and Customs | HMRC |
| Hire purchase | HP |
| Harmonized Commodity Description and Coding System | HS Code |
Terms with Letter I
| Terms of Commerce | Abbreviations |
| International Accounting Standards | IAS |
| Initial Public Offering | IPO |
| Industry Classification Benchmark | ICB |
| Industrial Finance Corporation of India | IFCI |
| Incorporated | INC. |
| International Bank Account Number | IBAN |
| Internal Revenue Service | IRS |
| Invitation to tender | ITT |
| Initial Public Offering | IPO |
| International Monetary Fund | IMF |
| Institute of Supply Management | ISM |
| Internal Rate of Return | IRR |
| International Securities Identification Number | ISIN |
Terms with Letter J – L
| Terms of Commerce | Abbreviations |
| Joint Supervisory Team | JST |
| Just in time | JIT |
| Just in sequence | JIS |
| Karachi Interbank Offered Rate | KIBOR |
| Key Performance Indicator | KPI |
| Know Your Customer | KYC |
| Letter of credit | LC |
| Leveraged Buyout | LBO |
| London Interbank Offered Rate | LIBOR |
| Limited Liability Partnership | LLP |
| London Metal Exchange | LME |
| Limited Liability Company | LLC |
| Last In, First Out | LIFO |
| Last Year | LY |
| Letters of Undertaking | LoU |
| Limited Company | Ltd |
| Loan to Value | LTV |
| Learning Management System | LMS |
| Letter of intent | LOI |
Terms with Letter M – O
| Terms of Commerce | Abbreviations |
| Maximum Retail Price | MRP |
| Maintenance, Repair, and Operations | MRO |
| Memorandum of understanding | MPC |
| Marginal propensity to consume | MPC |
| Monopoly and Restrictive Trade Practices | MRTP |
| Not To Exceed | NTE |
| Net Present Value | NPV |
| Non-performing loan | NPL |
| Non-Performing Asset | NPA |
| Net Operating Profit After Tax | NOPAT |
| Net Operating Income | NOI |
| Net Operating Assets | NOA |
| Net Asset Value | NAV |
| New York Mercantile Exchange | NYMEX |
| National Securities Depository Limited | NSDL |
| National Association of Securities Dealers Automated Quotation | NASDAQ |
| New York Stock Exchange | NYSE |
| Over-the-counter (finance) | OTC |
| On-Time In Full | OTIF |
| Operating Expenditure or Operational Expenditure | OPEX |
| On-Line Tax Accounting System | OLTAS |
Terms with Letter P – S
| Terms of Commerce | Abbreviations |
| Permanent Account Number | PAN |
| Property, plant, and equipment | PP&E |
| Public-private partnership | PPP |
| Purchasing power parity | PPP |
| PowerPoint presentation | PPT |
| Public Sector Undertakings | PSU |
| Quality control or Quality costs | QC |
| Quarter on quarter | QoQ |
| Quick Review Report | QRR |
| Reserve Bank of India | RBI |
| Reserve Bank of Australia | RBA |
| Retained Earnings | RE |
| Request for information | RFI |
| Real Estate Investment Trust | REIT |
| Request for Proposal | RFP |
| Request for Quotation | RFQ |
| Reverse Tranche Position | RTP |
| Securities and Exchange Board of India | SEBI |
| Special Drawing Rights | SDR |
| Securities Transaction Tax | STT |
| Small and Medium Enterprises | SME |
| Securities and Exchange Commission | SEC |
| State Cooperative Agriculture and Rural Development Bank | SCARDB |
| Small Office/Home Office | SOHO |
| Special Drawing Rights | SDR |
| Standard Operating Procedure | SOP |
Terms with Letter T – Z
| Terms of Commerce | Abbreviations |
| Tax Deduction and Collection Account Number | TAN |
| Tax Information Network | TIN |
| Terms and Conditions | Ts & Cs |
| Total Quality Management | TQM |
| Total Shareholder Return | TSR |
| Trailing Twelve Months | TTM |
| Tax Deduction at Source | TDS |
| Time Value of Money | TVM |
| Unique Selling Proposition | USP |
| Unified Payment Interface | UPI |
| United Nations Conference on Trade and Development | UNCTAD |
| Value Added Tax | VAT |
| Value-Added Distributor | VAD |
| Venture Capital | VC |
| Value at Risk | VaR |
| Value-Added Reseller | VAR |
| Withholding Tax | WHT |
| Working Group on Money Supply | WGMS |
| World Trade Organization | WTO |
| Yield to Maturity | YTM |
| Year-to-go | YTG |
| Year-to-date | YTD |
| Year-over-year | YOY |
| Zero Based Budgeting | ZBB |
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E-Commerce
Electronic Commerce is the activity of buying or selling products on online services or over the Internet. E-commerce uses the technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems.
E-commerce is in turn driven by the technological advances of the semiconductor industry, and is the largest sector of the electronics industry. The situation of the pandemic has really shown to have an impact on the retail sales of e-commerce and further sales through electronic commerce are expected to reach around $6.5 trillion by 2023.
E-commerce Related Abbreviations
- AVS – Address Verification Service
- API – Application Programming Interface
- B2B – Business to Business
- B2C – Business to Consumer
- CSV – Comma Separated Values
- CRO – Conversion Rate Optimization
- CMS – Content Management System
- COS – Content Optimization System
- CRM – Customer Relationship Management
- CLV – Customer Lifetime Value
- CAC – Customer Acquisition Cost
- KPI – Key Performance Indicator
- m-Commerce – mobile commerce
- MBR – Monthly Recurring Revenue
- NPS – Net Promoter Score
- PPC – Pay-Per-Click marketing
- POS – Point-of-Sale
- QR Code – Quick Response Code
- SEO – Search Engine Optimization
- SERP – Search engine results page
- SLA – Service Level Agreement
- SKU – Stock Keeping Unit
- SaaS – Software as a Service
Commerce Related Abbreviations – Free PDF Download
Click here to download the list of Commerce related abbreviations PDF.
Department of Commerce, India
The department is consigned with forming the foreign trade policy and executing them. This also includes responsibilities relating to multilateral and bilateral commercial relations, state trading, export promotion measures, and the development and regulation of certain export-oriented industries and commodities.
- Incumbent Minister for Commerce and Industry – Shri. Piyush Goyal
Division of Department of Commerce and Industry
The Department of Commerce and Industry is divided into divisions for the functioning, they are:
- Administrative and General Division
- Ministry of Commerce and Industries India
- Finance Division
- Economic Division
- Trade Policy Division
- Foreign Trade Territorial Division
- State Trading & Infrastructure Division
- Supply Division
- Plantation Division
The topics under the administrative control of the Ministry of Department of Commerce include:
- International trade
- Foreign Trade
- State trading
- Management of Indian Trade Services
- Special Economic Zones
Abbreviations are used to write the terms in speedy. these shorthand writings are used by both students and officials. hope this article was beneficial and has included the most commonly used commerce terms’ abbreviations.
