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If a bankruptcy has been discharged but still reflects as pending on the title insurance policy due to the fact the trustee needs to close out will that affect the new lender's lien position?
It won't affect the lender's lien position but their policy. Most lenders won't close the loan if the bankruptcy has not been discharged. If you have been given the discharged paper, you can give a copy of it to the lender and the title company so that they have it in their records.
How do you valuate a company?
Determining the value of a company includes an in-depth financial and operating analysis of an entity in an attempt to provide a point estimate of value at a given date based on an identified standard of value. The ultimate question is, "What would an investor pay for an ownership interest in the subject company, given alternative options for investment in the marketplace?"
What is balance sheet and briefly explain the purpose?
What is a Balance Sheet * In financial accounting, a balance sheet or statement of financial position is a summary of the value of all assets, liabilities and Ownership equity for an organization or individual on a specific date, such as the end of its financial year. * nIt is also described as a "snapshot" of a company's financial condition on a given datePurpose * nTo identify potential liquidity problems* ** Company's ability / inability to meet financial obligations** nthe degree to which a co is leveraged or indebted* nWorking capital* ** nHow strong a co is to meet its short term liabilities* nBankruptcy* ** nWill the co be able to meet its payments* nStanding vis-à-vis its peers
Who can give financial advice?
Financial advice can be given by certified financial planners, financial advisors, accountants, and other professionals with expertise in managing money and investments.
What are financial goals?
Financial goals are plans you make in terms of the income you earn. The goals may include having a given amount of money at given time-frames.
What is commercial audit and how is it different from financial audit?
A financial audit looks into the legality of the financial statements of a given company. Commercial audits confirm that a company has the right to use the brands and products that it advertises.
List of financial and non financial incentives given by the companies?
A financial incentive a company might give an employee is a bonus for joining the company or staying with the company a certain length of time. A non-financial incentive from a company might be a day care center, an exercise room, or free coffee.
What is the difference between balance sheet and financial statement if there is any........?
Balance Sheet: Balance sheet is the financial picture of an organization on a given day. while financial statement is a broader term and it can be for a very long time. financial statment is a formal record of business financial activities. it can be a day. month a year or so on. while balance sheet is just a part of a financial statement. in short balance sheet is also a finanaical statement. but finanacial statement can not be balance sheet..
What type of information does financial accounting provide?
== == The exact information given can differ according to the accounting standards used in creating financial accounts. But generally it will give you three main statements. 1. There is a statement of the revenues earned and the expenses incurred in the last financial period. The result is the net profit or loss. The financial period often consists of a year. 2. The Balance Sheet provides the information about the overall position of the company. It shows the assets of the companies and the liabilities of the company. It tells you how the company is financed and the structure of the company's financial position. 3. The cash flow statement begins with the company's "cash and cash equivalents" and then goes on to calculate the real cash inflows and outflows. This is necessary as the profit made is not equal to the cash increased. Cash is like a blood in company. Apart from these, there is a statement of equity and the notes to the statements. These go further into the details of company's affairs.
Difference between financial position and financial performance?
in simple terms consider financial position as what is your balance sheet i.e your assets and liabilities financial performance your profit and loss account i.e all you income derived and expenses incurred in a given time. the above are not exact definitions, they are just explanations
Why are adjusting entries needed?
Adjusting entries are needed to ensure that a company's financial statements reflect the true financial position and performance for a given accounting period. They account for revenues earned and expenses incurred that have not yet been recorded in the accounting system, thus adhering to the accrual basis of accounting. This process helps to match income and expenses accurately, providing a clearer picture of profitability and financial health. Without these adjustments, financial statements may misrepresent a company's actual activities and financial condition.
Non financial incentives?
A bonus given which isn't related to money, e.g company car, free holiday etc...
What is accrual assumption?
The accrual assumption, or accrual basis of accounting, is a fundamental principle that states transactions should be recorded when they occur, rather than when cash is exchanged. This means revenues are recognized when earned and expenses when incurred, regardless of the timing of cash flows. This approach provides a more accurate picture of a company's financial position and performance over a given period, as it reflects all economic events rather than just cash transactions.
What is financial accounting and what are the terms used in financial accounting?
Financial accounting is a recording, summaring, classifying, communication, anlaysing of business transactions in oder to ascertain the financial position at a given time. and the trms use in financial accounting are: The dual concept in accounting, that is Debit the receiver's account and credit the Giver's account
What is the name given to phobia of financial debt?
What is the name given to the fear of financial debt?
What is surrendering your vehicle mean?
Surrendering a vehicle, in a financial sense, means that it is being repossessed and it is being given back to the finance company. The company will usually send someone to collect the vehicle.
If a bankruptcy has been discharged but still reflects as pending on the title insurance policy due to the fact the trustee needs to close out will that affect the new lender's lien position?
It won't affect the lender's lien position but their policy. Most lenders won't close the loan if the bankruptcy has not been discharged. If you have been given the discharged paper, you can give a copy of it to the lender and the title company so that they have it in their records.
