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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1922 edition. Excerpt: ...of the business. For this reason any such loans should be shown separately. Another matter that must be carefully ascertained is whether or not the item, accounts receivable, represents merchandise which has actually been sold and delivered. Notes receivable are assumed to be those made by financially responsible persons or corporations. This item should not include notes that are in any way questionable. If an applicant is holding notes of any considerable amount and his statement shows a shortage of cash, it is quite in order to inquire guardedly as to the worth of these notes. Banks will ordinarily advance money on notes of good signature, and a business man who obviously needs cash usually dis-. counts such notes to get it. The fact that he is holding them while short of ready cash looks suspicious. Two questions naturally arise. Couldnt he get anybody to take them off his hands? What is the matter with the notes? 8. Importance of date of invent0ry.--Stock on hand is naturally a very important item in every mercantile financial statement, and one that will stand the closest scrutiny. If this item is not based on a recent and accurate inventory it has practically no value from the credit mans point of view. If the amount is merely estimated, or if it is based upon an old inventory it can be only pure guesswork, and is therefore entitled to no consideration whatever. It does not show facts. The practice advocated by the National Association of Credit Men is that all stock must be shown at actual value. Actual value is not always determined by what the merchant has actually paid for his goods, nor is it what he thinks they are worth. Merchandise should be valued at actual cost only when it is fresh and...
| ISBN-13 | 9781153336444 |
|---|---|
| ISBN-10 | 1153336448 |
| Weight | 0.53 Pounds |
| Dimensions | 9.00 x 6.00 x 0.36 In |
| List Price | $19.99 |
| Format | Paperback |
|---|---|
| Pages | 156 pages |
| Publisher | |
| Published On | 2010-01-01 |
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