What is a Creditors Reconciliation ?

Q: What is Debt Management?

A: Debt is a type of borrowing which is taken by the person for specified period of time. The amount…

Q: What is concern of external users of accounting information in GAAP?

A: Accounting information includes all financial statements like Balance Sheet, Income statements and…

Q: What is accounting?

A: Hi student Since there are multiple questions, we will answer only first question. If you want…

Q: what is creditor and debtor?

A: Balance sheet: It refers to a financial statement that shows all the liabilities, assets, and…

Q: What is the distinction between debtor and creditor?

A: Accounts receivable Accounts receivable refers to the amounts to be received within a short period…

Q: What is Debt Service?

A: Step 1 The amount of money required to pay interest on the loan with the principal over some time is…

Q: Creditors Reconciliation

A: Creditors reconciliation means comparing the monthly statement prepared by the creditor in his books…

Q: Explain an example of seller is a principal or an agent can have a significant effect on its…

A: Principal: Principal is the legal owner of goods or service which is transferred to the customer…

Q: Define creditors.

A: Creditor: A creditor is a person or a company who has provided fund or loan, and hence, have a claim…

Q: Why debtors control account may have credit balance

A: DEBTOR CONTROL ACCOUNT- IT REFLECTS THE TOTAL AMOUNT OWNED BY ALL THE INDIVIDUAL DEBTORS. THE…

Q: For what items may a lender require escrow accounts from a borrower?

A: Escrow account is the third party account in which securities or assets are kept until the…

Q: at is the relationship of Debt (Loans) to Borrowers to Financial Intermediaries?

A: The financial intermediaries are very important in the financial world and transactions and there…

Q: What are some possible agency conflicts between borrowers and lenders?

A: Answer: Agent: An agent is one who provides work on principal’s behalf.  Principal authorizes agent…

Q: describe the role of debt covenants in protecting creditors;

A: Debt covenants are restrictions that lenders (creditors, debt holders, investors) put on lending…

Q: Earnings are extremely important to the creditors?

A: The creditors are the person to whom the company owes the money to be paid in future.

Q: What is a debtor

A: Solution:- Debtor meaning as follows under:-

Q: Evaluate the safety of creditors’ claims.

A: Creditor can be defined as the person who grants credit to another person or entity to be repaid in…

Q: What are financial obligations? How they can be overcome?

A: Liabilities:The claims creditors have over assets or resources of a company are referred to as…

Q: What is meant by the term Goodwill in accounting? Explain giving example.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: From a business's perspective, what is a warranty payment? Is it the same as a warrant payment or…

A: A warrant is a written order by one person instructing or authorizing another person to pay a…

Q: n the methods

A: Liquidity of the customer can be judge through calculating liquidity ratio. Liquidity Ratio is the…

Q: Why debtors control should always stay on debtor's control?

A: Debtor is the customer that has purchased goods and services on credit and owes money to the seller…

Q: What are the general rules for measuring gain or loss byboth creditor and debtor in a troubled-debt…

A: Rules for measuring gain or loss by creditor in a troubled-debt restructuring involving a…

Q: Does the deductibility of an expense or loss follow accounting practice?

A: The accounting practice is the practice of recording the day-to-day financial transactions of the…

Q: How to solve Debtors collection schedule

A: Debtors are those accounts to whom business has made credit sales on account and amount has not been…

Q: What are the effects on creditors, including secured creditors during voluntary administration?…

A: creditors are those person supply goods or services to the company, provide loan to the company,…

Q: why loan officer prefer accrual basis accounting

A: The financial statement of a firm can be prepared based on accrual basis of accounting or cash basis…

Q: How are refundable deposits and customer advances similar? How do they differ?

A: Refundable Deposits: Refundable deposits are that money in advance offered by the customer. It is a…

Q: What is goodwill, and what are the unique aspects of accounting

A: Goodwill is intangible, intrinsic to the company and cannot be sold separately from the business as…

Q: Why debtors list must be equal to debtors control

A: Account receivable means the amount due from customer whom we sold the goods on credit.

Q: What is the main purpose of loan loss provisioning? Explain the concepts of incurred loss model and…

A: The loan loss provision is the cash reserve created by the banks for the future credit risk. The…

Q: How the equity method accounting rules work?

A: Step 1 Equity method accounting is used for inter-corporate investments. It is used when the…

Q: Is the seller a principal or agent ?

A: A principal is any person involved in a contract, such as a seller, buyer, principal broker, or an…

Q: What is meant by Provision for Discount on Debtors and Reserve for Discount on Creditors.

A: Provision for discount on debtors: Discount is allowed for debtors when payment is made with in…

Q: What does the disclosure note for debt includes?

A: Debt securities: The financial instruments which are bought by investors, or corporations, or mutual…

Q: What occurs when a business pledges its receivables?

A:

Q: What is GAAP, Generally Accepted Accounting Principles?

A: The Generally Accepted Accounting Principles (GAAP)is a set of rules used for helping…

Q: What are out of period debts? Explain?

A: Out of Period debts: It is also known as time barred debts.

Q: What is proovision for bad debts

A: Bad debt means the amount due from debtor but it become bad i.e. it is not possible to recover the…

Q: what are investor and creditor？

A: Investor: An investor is a person or organization who invests the money into the business with an…

Q: What occurs when a business factors its receivables?

A: