Recourse business dictionary bookkeeping definitions

An economic resource that is expected to be of benefit in the future. Systematic recording of financial aspects of business transactions in appropriate books of account. Forfaiting is a means of financing used by exporters that enables them to receive cash immediately by selling their mediumterm receivables the amount an importer owes the exporter at a discount. The difference between recourse and nonrecourse debt is the ability of the lender to take the assets of the borrower if the debt is not paid. A recourse is a legal agreement that gives the lender the right to pledged collateral if the borrower is unable to satisfy the debt obligation. Incorporation process by which a company receives a state charter allowing it to operate as a corporation. Mutual fund a mutual fund is a type of investment vehicle consisting of a portfolio of. A full recourse debt is a guarantee that no matter what happens, the borrower will repay the debt. Sap is especially wellknown for its enterprise resource. A debt in which the borrower is personally liable and that is not backed by any collateral.

Non recourse finance is a loan where the lender is only entitled to repayment from the profits of the project the loan is funding, not from other assets of the borrower. Stock ownership plan esop endowment fund enterprise resource planning erp enterprise value ev. Legal right of a lender to seek repayment of the loan from the borrowers andor the guarantors unpledged personal property, in addition to the property pledged to the lender as. Gross income reduced by business and other specified expenses of individual taxpayers. Bookkeeping dictionary definition bookkeeping defined. Glossary of terminology and definitions for business and management. Bookkeeping definition, the work or skill of keeping account books or systematic records of money transactions distinguished from accounting. Recourse lending provides protection to lenders, as they are assured of having some repayment, either in cash or liquid assets. Discover the meaning of common bookkeeping terms, words and phrases from this quick a z style guide. When a lender is given recourse rights in a borrowing arrangement. Investopedias comprehensive financial terms dictionary with over 00 finance and investment definitions. Bookkeeping meaning in the cambridge english dictionary. A recourse is a legal agreement which gives the lender the right to pledged collateral if the borrower is unable to satisfy the debt obligation. Practice and body of knowledge concerned primarily with methods for.

As a legal term it signifies that a buyer and not the seller of an asset, or the holder and not the drawer. Accounting terminology guide over 1,000 accounting and. Bookkeeper definition, the work or skill of keeping account books or systematic records of money transactions distinguished from accounting. The business dictionary contains many other business terms and definitions. The definition of bookkeeping is keeping a detailed record of the business transactions for a person or business. Asset definition, a useful and desirable thing or quality. Typically with a full recourse loan no occurrence, such as loss of job or.

Easytouse free business glossary with over 20,000 terms. The difference between recourse and nonrecourse debt. Activity based costing an accountingbusiness term and method of. The alphabetical layout will help you easily find the word you need. As a legal term it signifies that a seller and not the buyer of an asset, or the drawer and not the holder of a negotiable instrument, is assuming the risk of. Recourse refers to the lenders legal right to collect.