his credit‚ such an advance is called an overdraft. The banker may take some collateral security or may grant such advance on the personal security of the borrower. The customer is permitted to withdraw the amount as and when he needs it and to repay it by means of deposit in his account as and when it is feasible for him. Interest is charged on the exact amount overdrawn by the customer and for the period of its actual utilization. Generally an overdraft facility is given by a bank on the basis
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Source of Finance Report I’m writing to you to give you more advice and guidance about which sources of finances should you go for. I’m going to give you a detailed analysis of the advantages and disadvantages of each source that will be appropriate for your business. External and Internal Sources of Finance External sources of finance are any sources of capital that can provide small business capital. For example a major external source are banks who can provide capital to your business to start
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Source of finance Match the source with advantages and disadvantages State if advantage/disadvnatage ordinary share capital: money given to a company by shareholders in return for a share certificate‚ which gives them part ownership of the company and entitles them to a share of the profits 21.Increasing ordinary share capital can make it easier to borrow more funds from a bank as the share capital can purchase assets that can be used as collateral. advantage 22.Bringing new shareholders
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Article Summary: Companies And The Customers Who Hate Them How can customer dissatisfaction lead to higher profits for the company? Companies have found out that ill-informed customers can be beneficial for them in terms of profits. Some companies have abused their customers intentionally‚ however others unwittingly exploited and took advantage of them. The Slippery slope: There are two major ways in which companies make profits by misleading their customers: * Offering the customers
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only include items in the cash book which have not yet appeared in the bank statement and any bank errors. Note: Where there is a bank overdraft the adjustments needed for reconciliation are the opposite to those needed for a positive balance . Cash book: Dr balance = positive balance. Cr balance = overdraft Bank statement: Dr balance = Overdraft Cr Balance = positive balance Reconciliation of ledger a/c’s with suppliers statements Because of differences in timing‚ the balance
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Business report Reef Adventures is a business that developed a package of cruising holidays on sailing ships around the Great Barrier Reef. In the establishment phase Reef Adventures concentrated on marketing these cruising holidays within Australia and New Zealand. As the business has grown steadily‚ the management has decided to market its product to potential customer‚ with a particular focus on Europe and the USA. Initially‚ considerable funds were needed to acquire ships and other equipment
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direct‚ 減 少存款的事項記在右方 credit‚ 月初須用人手計算戶口結餘 closing balance. 2. 月底‚ 銀行會寄來一張月結單 monthly bank statement‚ 讓我們核對現金簿的紀 錄。 月結單的記事方向與公司剛好相反‚ 減少存款的事項記在左方 debit‚ 增加 存款的事項記在右方 credit (當然‚ 考試時須小心看題目); 此外‚ 由於用電腦操作‚ 每次事項完成後‚ 都即時出現最新的結餘。 (有可能是”透支結餘” overdraft) 3. 有些資料是銀行月結單有紀錄‚ 而我們現金簿並無紀錄的‚ 包括: (a) 銀行代我們收到客戶的存款 direct credit / credit transfer 表示我們須補記所增加的存款 (debit) (b) 銀行代我們支付的費用‚ 即自動轉帳 auto-pay; 其中‚ 又可細分為 (i) 定額轉帳 standing order 及 (ii) 不定額轉帳 direct debit 表示我們須補記所增加的支款
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Bank Overdraft This is a temporary source found that is provided by bank in which business has a bank account. Overdraft is a facility to allow the business to withdraw from its current account exceeding the available cash balance. The business is charged interest based on amount overdrawn and the length of time overdrawn. There are some advantages and disadvantages of bank overdraft. Flexibility is the main advantage of this source. Banks have flexibility to adjust the level of overdraft facility
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• Capital Markets ICICI Bank is an active capital market intermediary. It is one of the promoters of several leading institutions in the country including National Stock Exchange Of India Limited (NSE)‚ National Commodities & Derivatives Exchange Limited (NCDEX)‚ Central Depository Services (India) Limited (CDSL). Since 2000‚ the Bank has also been one of the clearing and settlement banks for NSE and Bombay Stock Exchange Limited (BSE). The Bank also took up the clearing and settlement banking
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Sources of short term finance 1) Trade creditors This the basic source of finance and many entrepreneurs do not realise that by acquiring items on credit they are obtaining short term finance. Credit just like any other source of finance has interest element hidden which most are not able to recognise. The discount may be offered to encourage early payment and the receiving company may not advantage of the discount the cost arise. It is not a cheap source of finance. On occasions‚ trade credit is
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