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Definition of Creditors
Purchases of goods or services from suppliers on credit to whom the debt is not yet paid. Or a
The requirement that a claim holder voting against a plan of reorganization
Rule in bankruptcy proceedings whereby senior creditors are required to be paid in full
creditors exchange the debt of one defaulting borrower for the debt of another
A business that has terminated with a loss to creditors.
The ability of the bankruptcy court to confirm a plan of reorganization over the objections of
Indicator of financial leverage. Compares assets provided by creditors to assets provided
Interest payment plus repayments of principal to creditors, that is, retirement of debt.
Measures of the relative contribution of stockholders and creditors, and of the firm's ability
When a firm's business is terminated, assets are sold, proceeds pay creditors and any leftovers
Person appointed by unsecured creditors in the United Kingdom to oversee the sale of an
A bankruptcy in which a debtor and its creditors pre-negotiate a plan or
A bankruptcy practitioner appointed by secured creditors in the United Kingdom to oversee the
All parties that have an interest, financial or otherwise, in a firm - stockholders, creditors,
An unsecured bond that ranks after secured debt, after debenture bonds, and
Informal arrangement between a borrower and creditors.
Amounts a company owes to creditors.
What a company owes to its creditors. In other words, debts.
RATIO OF DEBT TO STOCKHOLDERSâ€™ EQUITY
A ratio that shows which groupâ€”creditors or stockholdersâ€”has the biggest stake in or the most control of a company:
Amounts due and payable by the business within a period of 12 months, e.g. bank overdraft, creditors and accruals.
Current assets less current liabilities. Money that revolves in the business as part of the process of buying, making and selling goods and services, particularly in relation to debtors, creditors, inventory and bank.
acid test ratio (also called the quick ratio)
The sum of cash, accounts receivable, and short-term marketable
a discipline in which historical, monetary
A report issued to a companyâ€™s shareholders, creditors, and regulatory
Net proceeds that would be realized by selling the firmâ€™s assets and paying off its creditors.
Agreement between a company and its creditors establishing the steps the company must take to avoid bankruptcy.
Cash Flow Provided or Used from Financing Activities
Cash receipts and payments involving
A characterization of the magnitude of a financial statement item's effect on a
This is the person who benefits from the terms of a trust, a will, an RRSP, a RRIF, a LIF, an annuity or a life insurance policy. In relation to RRSP's, RRIF's, LIF's, Annuities and of course life insurance, if the beneficiary is a spouse, parent, offspring or grand-child, they are considered to be a preferred beneficiary. If the insured has named a preferred beneficiary, the death benefit is invariably protected from creditors. There have been some court challenges of this right of protection but so far they have been unsuccessful. See "Creditor Protection" below. A beneficiary under the age of 18 must be represented by an individual guardian over the age of 18 or a public official who represents minors generally. A policy owner may, in the designation of a beneficiary, appoint someone to act as trustee for a minor. Death benefits are not subject to income taxes. If you make your beneficiary your estate, the death benefit will be included in your assets for probate. Probate filing fees are currently $14 per thousand of estate value in British Columbia and $15 per thousand of estate value in Ontario.
Creditor Proof Protection
The creditor proof status of such things as life insurance, non-registered life insurance investments, life insurance RRSPs and life insurance RRIFs make these attractive products for high net worth individuals, professionals and business owners who may have creditor concerns. Under most circumstances the creditor proof rules of the different provincial insurance acts take priority over the federal bankruptcy rules.
Current assets divided by current liabilities. This ratio indicates the extent to which the claims of short-term creditors are covered by assets expected to be converted to cash in the near future.
Property free and clear of all liens (creditors' secured claims).
Critical Illness Insurance (Credit Insurance)
Coverage that provides a lump-sum payment should you become seriously ill with a specified illness. The payment is made to your creditors to pay off your debt owing.
Job Loss Insurance (Credit Insurance)
Coverage that can pay down your debt should you become involuntarily unemployed. The payment is made to your creditors to reduce your debt owing.
Premium (Credit Insurance)
Annual or monthly amounts payable, by a client, for a selected insurance coverage to insure debt obligations to their creditors are protected.
Strike Insurance (Credit Insurance)
Coverage that can pay down your debt should you become unemployed due to a legal strike in your place of work. The payment is made to your creditors to reduce your debt owing.
Terminal Illness Insurance (Credit Insurance)
Coverage that provides a lump-sum payment should you become terminally ill. The payment is made to your creditors to pay off your debt owing.
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