Bookkeeping is the recording, management and reporting of a company, organization or individual’s financial transactions from a general ledger. Bookkeeping is vital for business planning, investing and financial management and…
Bootstrapping is when a business is started with its owner’s personal resources, such as funding the company entirely with their own money, without receiving outside help and continuing to support…
Bankruptcy is a legal process for individuals, companies or other entities that are not able to pay their outstanding debt to creditors. Bankruptcy can offer reprieve of some or all…
A balloon loan is a type of loan often used when purchasing real estate, auto loans or acquiring a business. Interest rates are typically low and payments are made over…
Special Assets Department or Bank Workout Group is the department within a lender that handles business loans and other types of funding that are in trouble. When a business has…
Know Your Customer, also known as Know Your Client or simply KYC, is the process of a financial institution verifying a potential client or current client’s risk tolerance and financial…
Undercapitalization occurs when a business does not have the proper working capital to run their normal business operations and pay creditors. When a company is not maintaining the proper amount…
Current Portion of Long-Term Debt (CPLTD) represents the amount of a company’s long-term debt that must be paid within the next year. This concept is important to help determine the…