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Long term sources of finance
Here we will focus only on the long term sources of finance because only long-term sources provide permanent financing. Long-term sources of finance (also called long-term sources of capital) refer to...
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Financial Position Statement Format (Balance Sheet)
As we mentioned earlier, a balance sheet (financial position statement) is one of the most important financial statements. Other important financial statements include the income statement, cash flow...
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Leasing
A lease is a contract between tenant (a lessee) and owner (a lessor) of the asset which allows the tenant to use owner’s property over specified period of time in exchange for periodic payments which...
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Operating and Financial Leases (Capital Leases)
Within an accounting context, a lease can be classified as an operating lease or a financial lease. Operating lease (service lease) refers to a short-term lease of an asset with a useful life longer...
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