Accountants need to develop the knowledge and skills of amending Final Accounts such as Profit and Loss Account (P&L Account) and Balance Sheet.
Posts tagged as “overdraft”
Businesses use trade credit to delay payments to their suppliers. They negotiate payments to take longer to pay outstanding invoices.
Overdraft is when the bank agrees to let the business spend more money than the business has in its official bank account.
There are many sources of finance that businesses can obtain their finance from. These include internal and external sources of finance.
While all stakeholders are important, some stakeholders provide finance for the business, therefore have special relationship with the business.