Bookkeeping is the process of recording, organizing, and maintaining the financial transactions and records of a business or organization. It is a foundational aspect of accounting, ensuring that all financial…
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Bootstrapping is a term used in business to describe the process of starting and growing a company using personal finances or the operating revenue generated by the business, rather than…
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Bankruptcy is a legal process in which individuals or businesses that are unable to repay their outstanding debts seek relief from some or all of their financial obligations. Bankruptcy is…
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A Balloon Loan is a type of loan that features relatively small regular payments over the term of the loan, followed by a large "balloon" payment at the end of…
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The Special Assets Department (SAD) is a division within a financial institution, such as a bank or lending company, that is responsible for managing and resolving high-risk or distressed loans…
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Know Your Customer (KYC) is a regulatory and compliance process used by financial institutions, businesses, and other organizations to verify the identity of their clients or customers. The primary goal…
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Undercapitalization occurs when a company lacks sufficient financial resources or capital to sustain its operations, meet its financial obligations, or fund its growth and expansion. Essentially, the company does not…
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The Current Portion of Long-Term Debt (CPLTD) refers to the portion of a company's long-term debt that is due for repayment within the next 12 months. It is classified as…
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