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Topic: Credit (accounting)


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In the News (Tue 8 Dec 09)

  
  Vinod Kothari's credit derivatives website
Accounting for credit derivatives is based on the accounting standards for derivatives.
Accounting standards for derivatives are themselves in a flux and are currently a part of an ongoing project for international harmonisation.
Accounting rules require the separation of an embedded derivative if the economic substance of the derivative is not closely related to the host contract.
www.credit-deriv.com /accounting.htm   (576 words)

  
  Financial accountancy - Wikipedia, the free encyclopedia
Financial accountancy (or financial accounting) is the branch of accountancy concerned with the preparation of financial statements for external decision makers, such as stockholders, suppliers, banks and government agencies.
The accounting equation (Assets = Liabilities + Owners' Equity) and financial statements are the main topics of financial accounting.
Various account types are classified as 'credit' or 'debit' depending on the role they play in the accounting equation.
en.wikipedia.org /wiki/Financial_accountancy   (442 words)

  
 Accounting
Accounting majors, minors, MIS majors, and finance majors from all levels attend this event to begin or to continue their participation in recruitment and hiring process.
A minimum grade of “C” in accounting courses taken (prefix ACC) is required for a student to graduate with a BBA in Accounting.
Students are encouraged to include electives from 300- or 400-level accounting courses so as to broaden their accounting knowledge base in the areas of governmental and not –forprofit accounting, financial statement analysis, ethics, fraud detection, and/or tax accounting in preparation for entry into those areas of the accounting profession.
www.shsu.edu /catalog/acc.html   (2397 words)

  
 Accounting   (Site not responding. Last check: 2007-11-01)
Managerial accounting is an undergraduate accounting course designed for the non-accounting major emphasizing the analysis and interpretation of accounting data for management decision-making purposes.
Credit may not be earned in both ACCT 3113 and ACCT 3413.
Credit may not be earned in both ACCT 3113 and 3413.
www.ucok.edu /registrar/catsf/cACCT.HTML   (1042 words)

  
 Credit - Wikipedia, the free encyclopedia
Credit (creative arts), acknowledging the ideas or other work of writers and contributors
Credit (education), a system of measuring academic coursework
This is a disambiguation page: a list of articles associated with the same title.
en.wikipedia.org /wiki/Credit   (98 words)

  
 Accounting debit credit   (Site not responding. Last check: 2007-11-01)
An analysis of the financial statements of the main lights of Inc. India demonstrates that the new standard of the accounting is responding certainly to the intention to equal towards outside on the years, the gains of companies what planning of aggressive tax of the use to animate upon its benefit numbers.
The responsibility of tax deferred from the Indian rayon of crore of RS 101,2 ascended to 9 percents of its net value, whereas for the industries of the confidence, the figure was crore of RS 2,061, or near 7 percents of its net value.
First, the companies must be required to hardly explain the source of the provisions or the credits of the tax deferred in their financial statements from the temporary one since they do in his balance.
debit.webclipat.com /accounting-debit-credit.htm   (2038 words)

  
 FRB: Speech, Bies--Fair Value Accounting--November 18, 2004
However, we believe that the accounting industry should be very careful before moving toward a more comprehensive fair value approach, where all financial assets and liabilities are recorded on the balance sheet at fair value and changes in fair value are recorded in earnings, whether realized or not.
Under U. generally accepted accounting principles, credit derivatives are generally required to be recognized as an asset or liability and measured at fair value, and the gain or loss resulting from the change in fair value must be recorded in earnings.
Most credit derivatives do not qualify for hedge accounting treatment, which would permit the gain or loss on the credit derivative to be reported in the same period as the gain or loss on the position being hedged, assuming the hedge is effective.
www.federalreserve.gov /boarddocs/speeches/2004/20041118/default.htm   (2640 words)

  
 Accounting Software 411 : Accounting For Credit and Collections (Controlling Credit Risk) - Part 7
The discount is accounted for (in the accounting system) when posting or applying the customer’s payment to his account during cash receipts processing.
Also called a documentary letter of credit, this is a common vehicle for arranging the payment of goods delivered overseas; it involves substituting a bank’s credit for the foreign customer’s.
The beauty of a standby letter of credit is that it does not require all of the acceptance procedures and paperwork needed for a documentary letter of credit.
www.accountingsoftware411.com /AcctSoftware.nsf/00/TIS122004133   (1596 words)

  
 Accounting -- credit program
The Accounting curriculum is designed to provide students with the knowledge and the skills necessary for employment and growth in the accounting profession.
Accounting graduates work in every type of business, as well as government and nonprofit organizations, and duties vary with the size and type of organization.
The faculty advisor for Accounting is Tracie Hayes, (336) 633-0291.
www.randolph.cc.nc.us /edprog/curr/account.html   (402 words)

  
 Accountancy Forum - Debit / Credit - Accounting Discussions
Since a liability account is a credit (a negative number), and the bank need to increase your account, they need to credit (add a negative number) to your account.
Since a liability account is a credit (a negative number), and they need to reduce that negative number, they add a positive number to it.
They then begin to realize that debits increase debit balance accounts and that credits increase credit balance accounts and that the opposite (i.e., decrease) is true when you enter a credit on a debit balance account or debit on a credit balance account and so on.
www.accountancy.com.pk /forum/topic.asp?TOPIC_ID=2056   (3336 words)

  
 Accounting   (Site not responding. Last check: 2007-11-01)
You achieve these professional certifications by applying to the appropriate professional organization or state office for admission to a national examination, passing the exam (which may be taken during the final semester of coursework), and achieving professionally related experience.
The courses required for the managerial accounting major prepare you to sit for the CMA exam, which is administered by the Institute of Management Accountants and the CIA exam, administered by the Institute of Internal Auditors.
To graduate with a major in managerial accounting or minor in accounting, you must have a 2.5 cumulative grade point average in all major required courses, including transfer courses, regardless of any declaration of academic bankruptcy.
www.uwsp.edu /news/uwspcatalog/accountg.htm   (1250 words)

  
 How is Your Credit Union Driving Liquidity For its Auto Lending Business?
This means that when a credit union is looking for loans to put on their balance sheet, often times so are other credit unions — everyone tends to be flush with liquidity at the same time and everyone is a buyer at the same time.
Credit unions are required to keep a minimum of 10 percent of the asset being sold on their balance sheets.
A credit union securitizing for the first time may have difficulty “bringing” their deal to the capital markets, especially if the credit union is not rated by an independent credit rating agency.
www.creditunions.com /home/articles/template.asp?article_id=1234   (1038 words)

  
 Accounting Software 411 : Accounting For Credit and Collections - Part 5
From an accounting standpoint, these procedures are necessary to cull out the uncollectible accounts from the accounts receivable, giving a truer picture of accounts receivable.
Those accounts that make up the vast number of low-dollar receivables will be dunned repeatedly by the system and shipments will be curtailed at the first sign of trouble (e.g., an invoice becomes 30 days past due).
Credit management applies different collections procedures to each tier; each procedure involves a level of effort appropriate for that stratum of accounts.
www.accountingsoftware411.com /AcctSoftware.nsf/00/TIS1020042BE   (779 words)

  
 USSGL: Credit Reform   (Site not responding. Last check: 2007-11-01)
This reference material is provided to assist credit agencies in complying with the Credit Reform Act of 1990 (P.L. Overview
The Federal Credit Reform Act of 1990 was enacted to accomplish four objectives:
The case studies illustrate accounting for direct and guaranteed loans at the net present value of their cash flows for transactions occurring after 1991.
www.fms.treas.gov /ussgl/creditreform/index.html   (154 words)

  
 Accounting Department Course Descriptions
ACCOUNTING I. This course addresses accounting concepts and principles applicable to business enterprises, including a study of the accounting cycle, accounting for assets, liabilities, and equity, and preparation and presentation of financial statements for external users.
This course addresses international accounting concepts and standards, from the perspective of international financial control and reporting to parties outside the firm, including an examination of the issues of transfer pricing and currency translation.
It includes a review of accounting theory and principles and their application to the work of an auditor, as well as methods in internal control and their importance in the context of external auditing.
www.desu.edu /som/accounting/courses.php   (799 words)

  
 How Do Lines of Credit Work? | Finance & Accounting > Finance & Accounting   (Site not responding. Last check: 2007-11-01)
Credit lines can be open-ended (like a standard credit card account), or they can be due at the end of a specified term.
Unsecured credit lines are also available, but their interest rates are usually higher.
Credit lines are easily accessed by calling your bank and requesting a transfer of funds into your business checking account.
www.allbusiness.com /articles/FinanceAccounting/902-32-2433.html   (440 words)

  
 V. Credit enhancement. | Banking, Finance and Accounting Industries   (Site not responding. Last check: 2007-11-01)
The willingness of the sponsor to retain an equity claim on the collateral pool as credit enhancement is largely driven by the structure of the CLO transaction.
At the same time, this decision is bounded by the conditions imposed by rating agencies in their credit risk assessment of the reference portfolio and the structure of the transaction, for the degree of minimum credit enhancement is exactly determined by securitisation guidelines of external rating agencies.
As this level of credit enhancement has an extremely remote probability of being fully depleted, the concentration of all credit risk of the loan pool onto a smaller asset base in the form of such credit supports yields a high investment-grade rating of senior claims on the reference portfolio.
www.allbusiness.com /periodicals/article/551189-1.html   (723 words)

  
 State of Connecticut Accounting Manual - GRANTS
Upon approval of a Letter of Credit receivable, the agency should establish a receivable record to which deposits and expenditures (this may be a monthly summary entry) are posted.
It also covers restricted accounts funded by receipts, the use of which is limited, by law or otherwise, to a particular purpose, and where use of a Special Fund is not required.
These accounts receive their funding from lapsing appropriations that are not authorized to give grants and consequently will lapse at year-end.
www.osc.state.ct.us /StateAcct/grants/grants.htm   (2877 words)

  
 Accounting for M&A, Credit, & Equity Analysts : McGraw-Hill Professional Books
Accounting for M&A, Equity, and Credit Analysts updates you on virtually every important facet of investment accounting, and provides the handy reference you need to instantly know what the numbers are really saying to you--and, just as important, what they are not.
Accounting for M&A, Equity, and Credit Analysts helps investment professionals as well as undergraduate and graduate students of and investment banking ensure that they will always be able to quickly and confidently get their hands on the right answers to virtually every accounting question.
Accounting for M&A, Equity, and Credit Analysts provides investment professionals, analysts, and bankers with only the information they need to understand how accounting impacts their everyday environment.
books.mcgraw-hill.com /getbook.php?isbn=0071429697   (675 words)

  
 Accounting Degree   (Site not responding. Last check: 2007-11-01)
The Accounting major prepares undergraduate students for a professional career in accounting through courses that provide technical, analytical, problem-solving, tax and accounting research, ethical, technological and communication skills required in today's accounting profession.
Students needing such courses for completion of the 128 semester credit hours of a bachelor's degree (which includes a minimum 40 semester credit hours of online courses from Franklin University) may select their electives identified for their program of study.
Credit hours may vary depending on courses completed at the community college.
www.alliance.franklin.edu /4121.cfm   (543 words)

  
 AAA Credit   (Site not responding. Last check: 2007-11-01)
When accounting problems led ratings firms to downgrade AIG this year, the insurer joined the swelling ranks of companies that have lost the coveted triple-A. Companies appear to fall from grace faster than in the past.
In addition to current concerns about credit quality, this likely reflects the tougher views the ratings companies have taken since they were criticized for failing to anticipate Enron Corp.'s bankruptcy.
But more debt means lower credit ratings."A lot of companies just made a conscious decision that the benefits of an AAA rating weren't worth the costs," says William Dudley, chief U.S. economist at Goldman Sachs in New York.
www.executivecaliber.ws /sys-tmpl/aaacredit   (825 words)

  
 Are You Accounting for Liquidity Needs?
As credit unions experience this tightening in liquidity they are faced with many options to alleviate some of that pressure from borrowing funds to selling participations to other credit unions or transacting whole loan sales with secondary market investors.
Credit unions can borrow funds or sell participations or transact whole loan sales to manage their liquidity while protecting their balance sheet.
In addition to the gain on sale calculation, the credit union will be able to reduce loan loss reserve allowances in proportion to the size of the sale, assuming that the credit quality of the loans in the sale is of the same caliber of the overall portfolio.
www.creditunions.com /home/articles/template.asp?article_id=1570   (700 words)

  
 Accounting for the Advance Child Tax Credit Payments on the 2003 Return
Although you are not eligible for the credit, you do not have to repay the $400 you received and do not report the $400 on your 2003 return.
Because you aren’t claiming the children, you cannot claim the Child Tax Credit for 2003 and the law says that you don’t have to repay any of the advance payment you received.
The IRS is automatically checking all Child Tax Credit claims to verify that taxpayers have factored in their advance payments.
www.irs.gov /newsroom/article/0,,id=120037,00.html   (747 words)

  
 Basic Terms and Concepts: Small Business Accounting
Accounts payable are liabilities, since they represent your company's future duty to pay a vendor.
At the end of one accounting year, all the income and expense accounts are netted against one another, and a single number (profit or loss for the year) is moved into the retained earnings account.
The income statement, in contrast, is a summation of the income and expenses from the first day of this accounting period (probably from the beginning of this fiscal year).
www.businesstown.com /accounting/basic-terms.asp   (1271 words)

  
 Microsoft - Microsoft Office Accounting - Credit Card Processing -FAQ
Credit Card Processing is a service in Office Accounting that allows you to initiate, authorize, and settle credit and debit card transactions directly from within Office Accounting.
To switch to one of the credit card processing providers offered through Microsoft, we recommend that you first check the cancellation policy in your current contract, then apply for a new account with the plan that best suits your needs.
The credit decision is made entirely by the credit card processing provider according to their own guidelines and Microsoft is not involved in the decision.
sba.microsoft.com /credit_faq.html   (1071 words)

  
 Accounting Concepts
Asset accounts are used to account for any physical thing (tangible) or right (intangible) that is owned and has monetary value.
Equity accounts are used to reflect the rights to the assets.
The accounts (assets, liabilities, and equity) are used to prepare a Balance Sheet.
www.das.state.ne.us /accounting/nis/am001.htm   (864 words)

  
 ACCOUNTING (ACCT)
The mission of the Department of Accounting is to provide quality higher education to the citizens of El Paso and the surrounding region, prepare them to function effectively in society, and contribute to the quality of life in this community and region.
Design and control of computerized accounting; use of computers in accounting and their applications to the auditing functions; stress is placed on E.D.P. control; internal auditing considerations.
This practicum in accounting is under the supervision of accounting practitioners.
www.utep.edu /catalogs/temp/grad/Grad_Accounting_2.html   (1880 words)

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