Trade Creditors
Posted by SkillMaker in Dec, 2016
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What are Trade Creditors in business? Trade creditors in business include any entity (enterprise, government, organisation or person) that the business owes money, for goods and services provided by the entity. The money owed to trade creditors is recognised as a current liability in the balance sheet of the business because trade creditors have a […]

Category: BSBFIA301
Financial Transaction in accounting
Posted by Peter Baskerville in Aug, 2015
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What is a financial transaction in accounting? In accounting, a financial transaction in accounting is an event that impacts on the monetary value of an asset, a liability, or the owner’s equity of a business and causes it to change. A financial transaction is characterized by the monetary impact it has on the financial statements […]

Category: BSBFIA301
Debits and Credits
Posted by Peter Baskerville in Aug, 2015
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Read Peter Baskerville‘s answer to Does debit mean what I’m getting and credit mean what I’m losing in accounting? on Quora