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In the documentary bills the seller faces a lot of risk as the risk of non-acceptance or non-payment of goods. This poses a main risk for the seller. These additional securities inside this method arise from the fact that, the letter of credit is issued through the bank and not through the party to the contract buyer. This instrument guarantees payment to the seller on fulfillment of specific conditions provided therein. The Letter of Credit can be explained as an instrument issued through a bank in favour of the seller termed as beneficiary whereby the issuing bank assumes to pay the beneficiary a specific sum against delivery of certain documents inside a stated period of time. There are several forms of a letter of credit; the most broadly used are given as:
1) Revocable vs. Irrevocable Letter of Credit
2) Confirmed vs. Unconfirmed Letter of Credit
3) Revolving Letter of Credit
4) Transferable Letter of Credit
5) Back to Back Letters of Credit
6) With Recourse vs. Without Recourse Letter of Credit.
What value can management derive from a Balance Scorecard? How does the management accountant contribute?
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Difference between managerial accounting and financial accounting are mentioned below Audience – Internal Vs External Format of Reporting – Free format Vs prescribed
Echeverria SA is an Argentinian manufacturing company whose total factory overhead costs fluctuate somewhat from year to year according to the number of machine-hours worked in its
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Advantages of Transfer Pricing (a) Transfer pricing is similar to cost apportionment and allocation in that values of one department are passed to another. For cost apportionme
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You are required to provide a report of approx 500 words or less (excluding attachments and references), accompanied by relevant calculations, in MS Word, MS Excel and/or PDF forma
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