Accounting ACCN 3

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  • 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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