International accounting procedures between Local banks and overseas banks often involve the use of nostro and vostro accounts. A nostro (means "ours" in Latin) account is an account maintained by a Local bank with a foreign bank that allows the Local bank to buy foreign currency. A vostro (means "yours" in Latin) account is an account maintained by an overseas bank with a Local bank that allows the overseas bank to purchase Local currency. The system of nostro and vostro accounts facilitates foreign exchange dealings and settlements and allows the settlement of currency transactions between the Country's (Local)Bank and foreign banks. Example : When X (Buyer) a trader in Base Country wants to purchase $5000 worth of goods by paying cash. Mr.X deposits the cash in his local bank in the country's currency for the corresponding amount ($5000) then a swift message is sent to the corresponding bank in the foreign country where the local bank holds a NOSTRO account requesting the bank to make the payment to Y (Seller) in his local currency i.e. US Dollars. Thus facilitating the trade between X & Y. IF Y wanted to buy something from X then the foreign bank would complete the deal using their VOSTRO account in X's country.
Accounts Receivable + Inventory - Accounts Payables. (excludes prepaid expenses and accrued liabilities)
Explain the significance of letter of credit in international marketing?
Working capital is a measure of a company's efficiency and its financial health. A measure of a companies efficiency is an example of working capital.
Accounting Equation of net working capital is as follows: Net Working Capital = Current Assets - Current Liabilities As cash is a part of current assets so by paying 2 million cash dividend will reduce cash from current assets and that's why it will have a negative impact on net working capital position. Example: Current Assets: Cash 500,000 Accounts receivable 100,000 Total Current Assets 600,000 Current Liabilities Accounts payable 200,000 Net Working capital before dividend = 600,000 - 200,000 = 400,000 Net Working capital after dividdend = 600,000 - 200,000 - 200,000(cash dividend) = 200,000
It depends on what type of deposit you did in your bank. for ex:Cash deposit - ImmediateElectronic Funds transfer (within same country) - 1 to 2 working daysElectronic Funds Transfer (Across Countrys) - 2 to 3 working daysDemand Draft/Money Order - 1 to 2 working daysLocal/Same city check - 2 to 3 working daysOutstation/Other city check - 3 to 5 working daysInternational check - 5 to 7 working days
If you have a bank or company you are working with, go to their site and they will explain in detail how it works with them. If not, you can read more about money market accounts on How Stuff Works. They do an excellent job explaining.
explain cro construction and working
1. Explain the working principle of a milling machine?
Working, working and working.
working of blue tooth
explain how good working relationships can be developed with team members
Accounts Receivable + Inventory - Accounts Payables. (excludes prepaid expenses and accrued liabilities)
Explain the workin principle of uln and its abbreviation
metal
working of a lead acid battery
recoupment of short working
Explain the significance of letter of credit in international marketing?