22 May 2018
A contingent liability is defined as a liability which may arise depending on the outcome of a specific event. It is a possible obligation which may or may not arise depending on how a future event unfolds. A contingent liability is recorded when it can be estimated, else it should be disclosed.
It is a potential loss or liability t.... more
Finance feed by:
Mr Ananth Narayana
CA in Practice • 15 Year 2 Month experience
CA in Practice • 15 Year 2 Month experience
It is a potential loss or liability t.... more
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15 May 2018
When an organisation is unable to honour its financial obligations or make payment to its creditors, it files for bankruptcy. A petition is filed in the court for the same where all the outstanding debts of the company are measured and paid out if not in full from the company’s assets.
In India if you file for bankruptcy it wi.... more
Finance feed by:
Mr Ananth Narayana
CA in Practice • 15 Year 2 Month experience
CA in Practice • 15 Year 2 Month experience
In India if you file for bankruptcy it wi.... more
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11 May 2018
Balloon payment is the lump sum payment which is attached to a loan, mortgage, or a commercial loan. This payment is usually made towards the end of the loan period. Balloon payment is higher than what you might be paying towards the loan on a monthly basis.
The good part about balloon payment is that they have lower initial payment.... more
Finance feed by:
RK & Associates
CA Firm •
100% (2 votes) •
15 Year 9 Month experience
CA Firm •
100% (2 votes) •
15 Year 9 Month experience
The good part about balloon payment is that they have lower initial payment.... more
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8 May 2018
Chattel mortgage is a loan extended to an individual or a company on a movable property. Here, the ‘chattel’ or the movable personal property which could be a car or a mobile home can be used as a security to extend the loan.
Chattel mortgages are secured loans attached to a personal movable property which is used to ext.... more
Finance feed by:
CA Nisha Bagla
B.com (Hons),CA
CA in Practice • 15 Year 8 Month experience
B.com (Hons),CA
CA in Practice • 15 Year 8 Month experience
Chattel mortgages are secured loans attached to a personal movable property which is used to ext.... more
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7 May 2018
Cash accounting is the methodology under which transactions are recorded when they actually happen. For example, income will be recorded when the company receives cash and expenses are recorded when they are actually paid out and not when the bill is raised.
There are two basic type of accounting methodologies – one is cash accounting.... more
Finance feed by:
Mr Ananth Narayana
CA in Practice • 15 Year 2 Month experience
CA in Practice • 15 Year 2 Month experience
There are two basic type of accounting methodologies – one is cash accounting.... more
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