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What are the types of major types of finance companies?
There are three main types of finance companies:
a. Sales finance institutions which make loans to customers of a certain retailer or manufacturer (for example Ford Motor Credit).
b. Personal credit institutions which make loans to consumers perceived like too risky by commercial banks (for example Household Finance Corp).
c. Business credit institutions which give financing to companies, particularly through equipment leasing and factoring (purchase through the finance company of accounts receivable by corporate customers).
Alternative summarised version of tests of controls · Segregation of duty (staff records are separate from wages department) · Documentation ( written evidence ) ·
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CONCEPTS OF WORKING CAPITAL There are two concepts of Working Capital - Net working capital and Gross Working capital. 1. Gross Working Capital Gross Working capital re
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