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[Debit] Staff loans
[Credit] Cash / bank
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Functions of the world bank?
One of the functions of the world bank includes granting reconstruction loans to the war devastated countries. The other function is granting development loans to the underdeveloped countries.
What is the exact meaning of liability define?
In accounting terms, Liability is one of the type of account.Using this type of account for all other loans, generally larger long-term loans such as a mortgage or vehicle loan can be got. This account can help you keep track of how much you owe and how much you have already repaid.
What are the accounting entries for non accrual loans?
Debit- Interest incomeCredit- accrued interest, but uncollectedIf ALLL accounts for accrued interest, for prior periods you can debit the ALLL, credit accrued interest, but uncollected.
How does a bank write down debt?
The charging or writing off of a debt is only a required accounting entry by the creditor. It does not effect you, or change the amount you owe, or that you owe it. It does not change any of the legal methods to force collection that were available before making the entry. All it does is make the creditors accounting statement recognize that an asset (your receivable) that it expected to realize, and already recorded as income, is not going to happen. they are taking the charge to their books for the expense of your not paying, or that it is now considered unlikely you will pay, and the asset does not exist (or in bank terms, is no longer productive). It does not mean they won't pursue it...in most cases they must. If they get paid (anything or all on it), that amount is considered income and booked as a recovery to replace what they took as a a charge. A bank, based on experience, will estimate what portion of its asserts (that are loans it has made), will not be paid. So, now in 2008, when more people are defaulting, most are saying they expect to receive less, and increase a "reserve" or "accrual" account they made for it. So for example, they may say they have $100 of loans outstanding...and they expect X income from it...but based on experience they say they anticpate 10% won't pay so the establish a reserve (a charge against that expected income) of 10% and show only $90 of a net asset. As you may expect, they do this very analytically, with diffwerent ratios for different types of laons....credit cards compared to car loans compared to home loans (and then different loans based on age or interest rates, or type of property, etc).
What are the five types of accounts in accounting?
The five types of accounts are: * Assets - for example debtors or stock * Liabiltiies - for example creditors or loans * Income - for example sales * Expenditure - for example salaries * Memo accounts- these hold non financial information, for example employee numbers
Functions of the world bank?
One of the functions of the world bank includes granting reconstruction loans to the war devastated countries. The other function is granting development loans to the underdeveloped countries.
Where can you go to accounting school online?
There are a lot of online schools for accounting. University of Phoenix offers accounting in their online school. They provide you will ways to apply for student loans as well.
What type of service does University Accounting Services provide?
University Accounting Services provides management services for student loans. Universities hire them to help administrate and bill campus based student loans. They help students understand the terms of their loans and help make payment as easy as possible.
What is deposit mobilisation in banking?
As you might already know, the main business for banks is accepting deposits and granting loans. The more the loans the banks disburse the more profit they make. Also, banks do not have a lot of their own money to give as loans. They depend on customer deposits to generate funds for granting loans to other customers. So a deposit mobilization scheme would encourage customers to deposit more cash with the bank and this money in turn will be used by the bank to disburse more loans and generate additional revenue for themselves.
What is the meaning of Mobilization of credit in banking?
As you might already know, the main business for banks is accepting deposits and granting loans. The more the loans the banks disburse the more profit they make. Also, banks do not have a lot of their own money to give as loans. They depend on customer deposits to generate funds for granting loans to other customers. So a deposit mobilization scheme would encourage customers to deposit more cash with the bank and this money in turn will be used by the bank to disburse more loans and generate additional revenue for themselves.
Why deposit mobilisation is necessary?
As you might already know, the main business for banks is accepting deposits and granting loans. The more the loans the banks disburse, the more profit they make. Also, banks do not have a lot of their own money to give as loans. They depend on customer deposits to generate funds for granting loans to other customers. So a deposit mobilization scheme would encourage customers to deposit more cash with the bank and this money in turn will be used by the bank to disburse more loans and generate additional revenue for themselves.
How banks mobilize deposits?
As you might already know, the main business for banks is accepting deposits and granting loans. The more the loans the banks disburse, the more profit they make. Also, banks do not have a lot of their own money to give as loans. They depend on customer deposits to generate funds for granting loans to other customers. So a deposit mobilization scheme would encourage customers to deposit more cash with the bank and this money in turn will be used by the bank to disburse more loans and generate additional revenue for themselves. They do that by organizing drives and road shows in prominent areas of the city
Can bank raise any amount of deposit irrespective of their capital?
Yes. There is actually no limit to the amount of money a bank can raise as deposits. The main business for banks is accepting deposits and granting loans. The more the loans the banks disburse the more profit they make. Also, banks do not have a lot of their own money to give as loans. They depend on customer deposits to generate funds for granting loans to other customers. So a deposit mobilization scheme would encourage customers to deposit more cash with the bank and this money in turn will be used by the bank to disburse more loans and generate additional revenue for themselves.
Where can I get a good accounting program?
Universities offers student loans or scholarships that will help you to pay it cheapest. You need to contact and inquire if you are eligible for it. You will enroll accounting program in a cheapest way possible.
What are the services that Welcome Finance offers?
Unfortunately, Welcome Finance is in default. This means they are no longer accepting any new customers or granting any new loans. Previously, Welcome Finance offered Personal and Secured Loans. Current customers are still able to make payments on their already existing loans.
Does loans and advances are the part of current assets in balance sheet of accounting?
Loans and advances are those amounts which company provided to its employees or other related stakeholders so it is part of current assets.
What has the author Hector R Anton written?
Hector R. Anton has written: 'Managing the allowance for loan and lease losses' -- subject(s): Bank loans, Commercial loans, Leases 'Accounting for th flow of funds' 'Fortran and business data processing' -- subject(s): FORTRAN (Computer program language) 'Accounting for the flow of funds' -- subject(s): Accounting, Corporations, Financial statements
