Factoring - 9727 Words

[pic] |INDEX | |CHAPTER No. |Particulars |Page no. | |1. |Introduction, meaning defination. |3 | |2. |Modus operandi, terms and condition |4-6 | |3. |Function, types, beneifits of factoring |7-10 |†¦show more content†¦According to Webster dictionary ‘Factor’ is an agent, as a banking or insurance company, engaged in financing the operation of the certain companies or in financing wholesale or retail trade sale, trough the purchase of account receivables. As the directory rightly points out factoring is nothing but financing through purchase of account receivables Thus, factoring is a method of financing whereby a company sells its trade debts at a discount to the financial institution. In other words, factoring is a continuous arrangement between the financial institution and a company which sells goods and services to trade the customer on credit. As per this arrangement, the factor purchase the client’s trade debts including account receivables either with or without recourse to the client, and thus, e xercise control over credit extended to the customers and administer the sales ledger of his client. The client is immediately paid 80percent of the trade debts taken over and when the trade customers repay their dues, the factor will make the remaining 20 percent payment. To put in layman’s language, a factor is an agent who collects the dues of his client for a certain. 1.3 DEFINATION Robert W. Johnson in his book ‘Financial Management’ states, â€Å"factoring is a service involving the purchase by a financial organization, called a factor, of receivables owned to manufacturers and distributors by their customers,Show MoreRelatedThe Impact Of Factoring On An International Scale1102 Words   |  5 Pages Factoring is a form of commercial finance which provides funding services to businesses who either do not qualify for traditional financing or who desire to outsource their receivables and credit management to a third party while also having the option of drawing funds against the receivables being managed by the factor. Additionally, companies who are experiencing growth choose factoring as a finance tool due to its availability and flexibility as an aid to fuel their growth. Much can be learnedRead MoreDebt and Factoring1005 Words   |  5 Pagesquickest forms of low cost business finance is factoring, where you can get up to 85% of the value of your invoice immediately, and the remainder (minus the factoring company’s fee) after the money is collected. kFactoring is one of the best ways to get quick finance, improving your cashflow and allowing you to make the most of your sales without risking late payment. What is factoring? You can image that just be simple to sell your invoice to a factoring company. You can get cash quickly, have a chanceRead MoreAdvice For Noc Ltd, A Uk Toiletry Manufacturer1451 Words   |  6 Pagesface cash flow risks due to their open account trade as buyers are enjoying 30 days credit thereby causing NOC Ltd to run out of cash to pay its creditors. However, NOC Ltd can use other trade finance techniques, such as export credit insurance, factoring or even negotiate a period of credit from its suppliers to help mitigate the risk of non-payment which is associated with the company’s 30 day open account trade. An export credit insurance provides protection against commercial losses such as defaultRead MoreAccounting Finance Questions1228 Words   |  5 Pagesfinancing to solve the cash-flow problem. Discuss how this form of finance works and explain which institutions provide this form of finance. ii) An alternative arrangement is debt factoring. Describe the nature and operation of factoring as a form of finance and explain why a company may prefer debt factoring to accounts receivable financing.Read MoreAging Schedule of Accounts Receivable1396 Words   |  6 Pages8%36590=1.97% Total interest paid=1.97% Ãâ€"$35,200=$694.36 EAR= $ 694.36+$800$35,200Ãâ€"36590=17.22% The effective annual rate for pledging accounts receivable and factoring accounts receivable is 9% and 17.22%, respectively. 7. If I were to represent the commercial bank I would tell Howard that pledging his accounts receivable is better than factoring because there will be no transfer of the ownership of the accounts receivable and customer remittances will go directly to the company. In addition, hiringRead MoreSources of Finance1627 Words   |  7 PagesVenture Capitalists want their money back and profits either made from the business or out of the owner’s personal money in a short period of time. This is why they invested. Factoring- debt factoring means that the business sells its debt to another company and receives some of the money immediately. The debt factoring company collects the debts and takes a percentage cut for this service. An advantage could be a business can immediately receive cash for the customer accounts receivables thatRead MoreEffectiveness Of Working Capital Management Essay2137 Words   |  9 Pagesregularly so that he tracks his account. SMEs can outsource the management of receivables. Most financial institutions offer debt factoring services. Debt factoring is an arrangement were the institution can decide to pay a certain percentage of your invoices let’s say 85% immediately and the remainder will be settled when the debtors have fully repaid. In Zimbabwe factoring is not very popular even though some few companies have opened offices in some of the major towns. Managers of SMEs can make goodRead MoreMergers and Acquisitions: Proctor and Gamble, and Wella Ag3268 Words   |  14 Pagesintermediary who purchases accounts receivable at a discount. Under a factoring agreement companies sell or assign its account receivable to a factor in exchange for a cash advance (irs.gov). The factor typically changes interest on the advance plus a commission. The price paid for the receivables is discounted from their face amount to take into account the likelihood of uncollectibilty of some of the receivables (washington post.com, nd). Factoring is a technique used by companies to manage their accountsRead MoreButler Lumber Case952 Words   |  4 Pagesso was to calculate external funds needed, which was found to be $509.46 (Exhibit3). It was then understood that factoring accounts receivables at a discount of 3% would cause current assets to decrease by $8.02. By deducting this amount from the $509.46 EFN, we obtain net EFN of $501.44. We analyzed various options to achieve this level of EFN and found that a combination of factoring accounts receivables and maximizing our bank loan with Suburban National Bank was the viable solution. As statedRead MoreCase Module G : Walt Pavlo Mci2638 Words   |  11 Pageswrite-off the debt and share with Mann the payments received by the clients. Mann and Walt created this scheme to embezzle MCI clients into making payments believing the payments were to pay-off an agreement with Manatee Capital, in the business of factoring accounts receivable. This scheme was fraudulent, unethical and illegal. 2. What ethical issues should have occurred to Walt and MCI in regard to the schemes described? While devising the schemes, many ethical issues should have occurred to Walt

Voltaire s View Of Candide - 1511 Words

Voltaire s Candide is a satirical work written in 1759 as a commentary during the Enlightenment. One of Voltaire s most famous works, it also functioned to reflect Voltaire s opinions. Candide is considered Voltaire s signature work in which he levels his sharpest criticism against nobility, philosophy, the church, and human cruelty. Though often considered a representative text of the Enlightenment era, the novel criticizes a number of Enlightenment philosophies. As reading and books were a sign of wealth in that time, the trend among nobility was reading. The criticisms and ridicule within the satirical nature of Candide had much to do with the nobility and their standards and ideas, especially in contrast with those of the lower classes. Through the form and technique of satire in Candide, Voltaire suggests the absurdity of societal principles and theories. Throughout the novel, Candide s teacher and philosopher, Pangloss, persists in his paternalistic optimism theory. He continually expresses his belief that this world is the best of all possible worlds and that everything happens and exists for a reason. One example is after the earthquake in Lisbon, killing 30,000 people, Pangloss comments, For, said he, all that is for the best. If there is a volcano at Lisbon it cannot be elsewhere. It is impossible that things should be other than they are; for everything is right (5.14). Pangloss insists that the volcano was made for the exact purpose of the earthquakeShow MoreRelatedVoltaire s Views On England And Candide1528 Words   |  7 PagesVoltaire’s Views A renowned thinker and philosopher of his day, Voltaire’s works were influential to many who read them. To a modern reader with no context, the meanings may be lost. However, to someone reading shortly after publication, the meanings would be obvious. Voltaire’s two works are around twenty years apart and have certain points of continuity and dissent. His views on religion seem to change, while his appreciation for thinkers is a common theme in both works. The key connection betweenRead More`` Candide `` A Satire Of The Social, And The Scientific Revolution1608 Words   |  7 PagesFranà §ois-Marie Arouet (1694-1778), who wrote under the name Voltaire, was an Enlightenment thinker who helped invoke this change. One way he did this was through his novel Candide, a satire of the issues in society. Throughout this book, the character Candide experiences misfortunes and lucky breaks that change his view of the world. This change in view is what Voltaire thinks should chan ge in society. Specifically what he would like to see was that, â€Å"Voltaire championed individual freedom and attacked any institutionRead MoreVoltaire And His Candide - Voltaire s Candide1211 Words   |  5 PagesVoltaire and his Candide Introduction Voltaire is the leader of the French Enlightenment, he enjoyed high prestige in the enlightenment movement. His life was spent in against the feudal regime system and the reactionary forces of the church (Gorbatov, 2006). Voltaire was knowledgeable, he had many works (including philosophy, history, literature, science, etc., throughout his literary creation, the most valuable was his philosophical novels (Sutcliffe, 2000). These novels maintained the vitalityRead More Use of Satire to Target Religion, Military, and Optimism in Voltaires Candide 602 Words   |  3 PagesUse of Satire to Target Religion, Military, and Optimism in Voltaires Candide    In his work, Candide, Voltaire uses satire as a means of conveying his opinions about many aspects of European society in the eighteenth century.   Voltaire successfully criticizes religion, the military, and the philosophy of optimism.   Religious leaders are the targets of satire throughout Candide. Voltaire portrays the religious clergy as men who use their positions to further their own causes. In additionRead MoreA Comparative Study Of Voltaire s And Moliere s Views On Religion1522 Words   |  7 PagesA Comparative Study of Voltaire s and Molià ¨re’s Views on Religion in Candide and Tartuffe Literary works often reveal their authors views on particular social issues. Tartuffe (1669), a play by Molià ¨re, and Candide (1759), a philosophical tale by Voltaire, both deal with the question of religion in society. Tartuffe is a satire on the attitudes of the bourgeoisie toward religion in seventeenth-century France. Molià ¨re firmly believes in religious moderation and condemns religious hypocrisy andRead MoreCandide : A Reflection Of The Enlightenment1325 Words   |  6 Pages Candide: A Reflection of the Enlightenment Francois-Marie Arouet, otherwise known as Voltaire was an 18th century French philosopher and writer during the Enlightenment period. Voltaire’s most famous work of literature; Candide follows a young man who grows up in a Baron’s castle (Castle Thunder-ten-tronckh), under the instruction of Dr. Pangloss, a tutor and philosopher who worships optimism even under extreme circumstances. Throughout Voltaire’s novel, Candide and his companions encounter aRead MoreA Comparative Study Of Voltaire s And Moliere s Views On Religion Essay1598 Words   |  7 PagesA Comparative Study of Voltaire s and Molià ¨re s Views on Religion in Candide and Tartuffe Literary works regularly uncover their creators perspectives on specific social issues. Hypocrite (1669), a play by Molià ¨re, and Candide (1759), a philosophical story by Voltaire, both manage the subject of religion in the public eye. Fraud is a parody on the states of mind of the bourgeoisie toward religion in seve nteenth-century France. Molià ¨re immovably puts stock in religious balance and denounces religiousRead MoreWhat was the historical significance of Voltaires Candide and its relevance during the Enlightenment?1445 Words   |  6 PagesWhat was the historical significance of Voltaires Candide and its relevance during the Enlightenment? In his work, Candide, Voltaire uses satire as a means of conveying his opinions about many aspects of European society in the eighteenth century, a period known as the Enlightenment. This Age of Reason swept through Europe, offering differing views on science, religion, and politics. The following essay will outline the philosophical theory of Pangloss, a character of the novel and suggestRead MoreA Critique Of The Novel Candide 1238 Words   |  5 PagesIn the novel Candide, Voltaire uses irony, exaggeration, understatement, sarcasm and other literary devices in order satirize flaws in society. There are two different types of Satire, that of Horace, which mild and lighthearted, and that of Juvenal, called Juvenalian, which is scornful and scathing, very rarely intended to be funny, but rather make a critique of a societal problem, to call for change. Both types are found in Candide, both characterized in the novel by ironic criticism of weaknessesRead MoreThe Age Of Enlightenment Ideas Lead To Hypocrisy In Candide By Voltaire1592 Words   |  7 Pagesideas lead to hypocrisy in Candide? The â€Å"Age of Reason†, during Europe was a time in history where people started to confide in eachother and themselves when it came to reason and logic; and it was a period when creative ability came to light and it was encouraged. This paper will examine Voltaire s Candide and the way Voltaire mocks religion and how this outlines Enlightenment thought. A decent approach to portray Candide may be the ethical quality play by Voltaire with no ethics. All through

God Is Great Free Essays

‘God is great, God is good, now we thank him for our food. ’ This simple prayer reflects twin commitments in Christian belief to God’s greatness and God’s goodness. Yet Christian theodicies have often averred to God’s greatness to the detriment of his goodness. We will write a custom essay sample on God Is Great or any similar topic only for you Order Now Let us interpret God’s greatness in a manner other than power. Indeed, let us consider God’s greatness, as the medievals understood God’s goodness, in terms of being: goodness and being are interchangeable; 1God is the most real being; hence, God is the greatest being. God is great. Let us interpret God’s goodness in a manner analogous to human goodness. I take God’s goodness as analogous primarily to the parent-child relationship; God is good, according to this analogy, as a father or mother is to his or her children. 2Caring for one’s children is a paradigm metaphor in Scripture for God’s carefor his creatures. God is good. The purpose of this essay is to explore the ramifications of these two views for the problem of evil and especially for the problem of hell. Judgements typically viewed hell as an eternal torture chamber perhaps with God himself as the torturer. I shall expound both views of divine goodness, present some arguments in their defense, and then locate them within the context of a Theodoric of human suffering. I shall argue that neither is singly adequate as an understanding of the divine nature; but, if both are maintained, a trilemma arises for the traditional doctrine of the eternal punishment of the damned. That is, I shall argue that one can hold the following three views only on pain of inconsistency: 1. God is great. 2. God is good. 3. There is a hell (an eternal torture chamber). How to cite God Is Great, Papers