Recourse business dictionary bookkeeping definitions

Systematic recording of financial aspects of business transactions in appropriate books of account. The alphabetical layout will help you easily find the word you need. Non recourse finance is a loan where the lender is only entitled to repayment from the profits of the project the loan is funding, not from other assets of the borrower. The business dictionary contains many other business terms and definitions. Investopedias comprehensive financial terms dictionary with over 00 finance and investment definitions. A recourse is a legal agreement which gives the lender the right to pledged collateral if the borrower is unable to satisfy the debt obligation. A full recourse debt is a guarantee that no matter what happens, the borrower will repay the debt. Gross income reduced by business and other specified expenses of individual taxpayers. Legal right of a lender to seek repayment of the loan from the borrowers andor the guarantors unpledged personal property, in addition to. A recourse is a legal agreement that gives the lender the right to pledged collateral if the borrower is unable to satisfy the debt obligation. Accounting terminology guide over 1,000 accounting and. When a lender is given recourse rights in a borrowing arrangement. Bookkeeping meaning in the cambridge english dictionary.

Forfaiting is a means of financing used by exporters that enables them to receive cash immediately by selling their mediumterm receivables the amount an importer owes the exporter at a discount. Bookkeeper meaning in the cambridge english dictionary. An economic resource that is expected to be of benefit in the future. The nysscpa has prepared a glossary of accounting terms for accountants and. A debt in which the borrower is personally liable and that is not backed by any collateral. As a legal term it signifies that a buyer and not the seller of an asset, or the holder and not the drawer. Legal right of a lender to seek repayment of the loan from the borrowers andor the guarantors unpledged personal property, in addition to the property pledged to the lender as. Stock ownership plan esop endowment fund enterprise resource planning erp enterprise value ev. Activity based costing an accountingbusiness term and method of. Bookkeeping dictionary definition bookkeeping defined. Bookkeeping definition, the work or skill of keeping account books or systematic records of money transactions distinguished from accounting. The difference between recourse and nonrecourse debt is the ability of the lender to take the assets of the borrower if the debt is not paid.

The difference between recourse and nonrecourse debt. Typically with a full recourse loan no occurrence, such as loss of job or. Practice and body of knowledge concerned primarily with methods for. Asset definition, a useful and desirable thing or quality.

Bookkeeper definition, the work or skill of keeping account books or systematic records of money transactions distinguished from accounting. Glossary of terminology and definitions for business and management. The definition of bookkeeping is keeping a detailed record of the business transactions for a person or business. Incorporation process by which a company receives a state charter allowing it to operate as a corporation. Recourse lending provides protection to lenders, as they are assured of having some repayment, either in cash or liquid assets. Easytouse free business glossary with over 20,000 terms. Mutual fund a mutual fund is a type of investment vehicle consisting of a portfolio of. Nonrecourse debt favors the borrower, while recourse debt favors the lender. Recourse refers to the lenders legal right to collect. As a legal term it signifies that a seller and not the buyer of an asset, or the drawer and not the holder of a negotiable instrument, is assuming the risk of. Sap is especially wellknown for its enterprise resource. Discover the meaning of common bookkeeping terms, words and phrases from this quick a z style guide.