what is difference between financial creditor and operational creditor?
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Ans. Financial creditor is any person to whom a financial debt is owned and includes a person to whom such debt has been legally assigned or transferred to. Operational creditor is any person to whom operational debt is owned and includes a person to whom such debt has been legally assigned or transferred to.
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Financial assets include cash and marketable securities, while financial liabilities usually refer to debt and leases. Conversely, operating assets include accounts receivable, inventory, and fixed assets; operating liabilities include accounts payable and accrued liabilities.
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A financial company / financial institution is one whose core business involved in borrowing, lending and at times subject to certain considerations even raising money for a non-financial company. A non-financial company is a business engaged in anything other than what a financial company does.
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Operational data describes the entirety of the business process through completion. ... Transaction data describes an event, it always has time dimension and a numerical value. Operational data refers to the data stored in a database which is designed to integrate data from required sources.
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A term used in accounting, 'creditor' refers to the party that has delivered a product, service or loan, and is owed money by one or more debtors. A debtor is the opposite of a creditor – it refers to the person or entity who owes money.
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Answer- Difference-Financial accounting has its focus on the financial statements which are distributed to stockholders, lenders, financial analysts, and others outside of the company. ... Management accounting reports provide estimates for what might happen in the future.
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Key Takeaways Operating cash flow is the money a business generates from its core operations. Net operating income is generally the same as operating income for a company. Operating income is often referred to as earnings before interest and taxes (EBIT), although the two may differ at times.
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Current liabilities are normally settled from the amounts available in current assets. The main element of this is normally "trade creditors" – amounts owed by a business to its suppliers for goods and services supplied. A trade creditor is the reverse of a trade debtor.
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Key Takeaways. Operating income is revenue less any operating expenses, while net income is operating income less any other non-operating expenses, such as interest and taxes.
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A capital lease (or finance lease) is treated like an asset on a company's balance sheet, while an operating lease is an expense that remains off the balance sheet. ... Capital leases are counted as debt. They depreciate over time and incur interest expense.
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Differences Between Budgets Capital budgets are paid out of future cash flows from the projects, and they represent the sources of funding and the purchases of the fixed assets. ... Operational budgets project the activities of the firm in buying, selling and paying bills, and usually, is done on an annual basis.
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Financial accounting is focused on creating financial statements to be shared internal and external stakeholders and the public. Managerial accounting focuses on operational reporting to be shared within a company.
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CFO (Chief Financial Operator) – The head of the finance department. ... Chief Accountant or Accounting Manager – Responsible for all accounting and reporting activities and the day to day running of the organisation's finance requirements.
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REPORTING FOCUS Financial accounting is focused on creating financial statements to be shared internal and external stakeholders and the public. Managerial accounting focuses on operational reporting to be shared within a company.
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Generally speaking, a debtor is a customer who has purchased a good or service and therefore owes the supplier payment in return. Therefore, on a fundamental level, almost all companies and people will be debtors at one time or another. For accounting purposes, customers/suppliers are referred to as debtors/creditors.
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The operating budget is a statement indicating all the operational expenses and incomes of the organization. ... The financial budget is the plan which includes the cash inflow and outflow of the firm. It includes a detailed budgeted balance sheet, sources of funds and capital expenditures, budgeted cash flows, etc.
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Despite some superficial similarities, Credit One and Capital One are two completely different credit card issuers. Capital One is the much larger and better-known financial institution, but Credit One is still a legitimate company that focuses mostly on cards for people with poor credit.