See Also: Double Entry Bookkeeping Journal Entries For Factoring Receivables Accounting Principles Accounting Concepts Adjusting Entries Role of a Company Back Office Journal Entries Definition A journal entry is a recording of a transaction into a journal like the general journal or another subsidiary journal. Journal entries for accounting require that there be a debit and a
See also: Account Reconciliation Standard Chart of Accounts Problems in Chart of Account Design Cash Flow Statement Income Statement Subsidiary Ledger General Ledger Reconciliation and Analysis Definition Define a general ledger as the financial record of every transaction of a company. Commonly, it is referred to as the “books” of the company. In the general
Are you credit worthy? Right now, is your credit good enough for a lender to give you a loan or line of credit today? If your answer is no or if your not sure of your answer, take a look at the 5 Cs of Credit. This 5-point checklist allows loan officers to easily determine
Debit Versus Credit Since the late 13th century, people have discussed debit versus credit. Double entry accounting was conceived centuries ago. Now, it is an international standard to record all business transactions with a debit and a credit. This double entry keeps the accounting equation balanced. It also ensures that one account is not left
See Also: Debits and Credits Double Entry Bookkeeping Debits vs Credits in Accounting When people discuss debit vs credit, they are usually referring to double entry accounting. More specifically, a debit and credit are recorded for each transaction. These two are required for each transaction in order to keep the accounting equation in balance. There
See Also: Relationship With Your Lender What Does a Lender Want to Know Don’t Tell Your Lender Everything Due Diligence on Lenders Finding the Right Lender What Lenders Look At? I recently spoke to students at the University of Houston in the Wolff Center for Entrepreneurship on the topic of Dealing with Lenders. During the
See Also: 5 Cs of Credit Line of Credit Credit Rating Agencies How Important is Personal Credit in Negotiating a Commercial Loan? Improve Your Credit Score 7 C’s of Banking Every knows the 5 C’s of Banking. But what are the 7 C’s of Banking? Recently, I spoke to students at the University of Houston
See Also: Debits and Credits Credit Letter Direct Tax Credit Memorandum (memo) Unsecured Credit Definition Define unsecured credit as credit not collateralized by an asset. It is a common form of credit used for business. Furthermore, an unsecured credit line comes in many forms, including the following: Credit card Trade credit Lines of credit Mezzanine debt
See Also: Trade Credit Trade Account Exchange Traded Funds Currency Exchange Rates Currency Swap Trade Finance Definition Trade Finance is the movement of assets, transactions, or investments overseas into other markets. To ensure the safety of a purchaser or seller trade finance, banks often provide a needed service to make the transactions as meaningful and
See Also: 5 Cs of Credit Credit Sales Standard Chart of Accounts Income Statement Free Cash Flow Trade Credit Definition The trade credit definition refers to postponing payment for goods or services received. Another trade credit definition is buying goods on credit, or extending credit to customers. It is also receiving goods now and paying for
See Also: How important is personal credit in negotiating a commercial loan? Loan Agreement Loan Term 5 C’s of Credit (5 C’s of Banking) Mezzanine Debt Financing (Mezzanine Loans) Loan Origination Fee Definition The loan origination fee definition is a charge from a lender to a borrower usually for mortgage loans. The origination fee is usually
See Also: Interest Rate Swaps Prime Lending Rate Libor versus Prime Rate Federal Funds Rate LIBOR Definition The LIBOR definition is a benchmark interest rate derived from the rates at which banks are able to borrow funds from one another in the London inter-bank market, is the foundation of all lending rates. Furthermore, this term
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