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Creditors: this may be short or long-term lenders. Short-term creditors comprise suppliers of materials, services or goods. They are generally termed as trade creditors. Long-term creditors are those who contain lent money for a long period, generally in the form of secured loans. The major concern of the creditors is focused upon the credit worthiness of the firms and its capability to meet its financial obligations. Therefore they are concerned along with the liquidity of the firms, its productivity and financial soundness. Conversely, it can also be stated as creditors are interested mostly in information that deals with solvency, liquidity and productivity hence they could assess the financial standing of the firms.
The Bayside Company uses the LIFO cost flow method to value inventory. In the current year, profit at Bayside is running unusually high. The corporate tax rate is also high this ye
After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $673,400, and Allowance for Doubtful Accounts has a balance of $11,90
explain the proceedure followed in government system of accounting in india
entry for bad debts provision
A career in taxation is by no signifies limited to public accounting. for the reason that there are so many types of taxes impacting so many aspects of our lives tax specialists ac
User account control is meant to allow users to run with standard user rights, as opposed to administrative rights. Administrative rights provide users the ability to read and chan
Q. What do you mean by Contingent liabilities? Contingent liabilities -- liabilities which are not recorded on a company's financial reports though whichmight become due. If a
The trial balance of Bellemy Fashion Center contained the following accounts at November 30, the end of the company’s fiscal year.
XYZ Solutions Pvt Ltd purchased a new vehicle for their employee Sonia to use for both work and private purposes on 1 November 2010. The car cost $38,500 and they paid an extra $2
Personal Account is an account for use by an individual for their own requirements. It is a relative term to distinguish the said accounts from those accounts for corporate or busi
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