Accounting ACCN 3
- Created by: Sue
- Created on: 17-01-13 15:32
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- FACTORS TO CONSIDER WHEN APPLYING FOR FINANCE
- purpose
- amount
- repayment
- Interest
- Security
- Finance involves business putting assets or homes as security, if business fails assets can be sold to repay borrowings
- why is the financing required - loan or mortgage for asset/overdraft for day to day working capital
- Exactly how much do you want to borrow
- Accurately work out time period for paying back
- Cost to the business of servicing loan or overdraft Amount of overdraft or loan x interest rate __________ 100
- Security
- Finance involves business putting assets or homes as security, if business fails assets can be sold to repay borrowings
- PARIS
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