Debit card pre-authorization holds and clearing
APIN-based debit card transaction is immediately posted
between the merchant and your bank. A preauthorization
hold is not required because it is an immediate deduction.
An ATM withdrawal is consi
Cash Flow Statement
Unlike the major financial statements, cash flow statement is
not prepared from the adjusted trial balance. The information
to prepare this statement usually comes from three sources:
1. Comparative balance sheets provide the amount of
Debit card purchases - "opt in" or "opt out"?
A second feature of your debit card to be aware of is that
your bank is required to ask if you want to "opt in" or "opt
out" for a debit card transaction (purchase or ATM
withdrawal) that causes your checking
The income statement is one of the major financial
statements used by accountants and business owners.
(The other major financial statements are the balance
sheet, statement of cash flows, and the statement of
The income statement
Debit Card vs. Card Card: Whats the difference?
Before moving on to look at a final type loan (a credit
card), we digress with a few points and tips on your debit
card.A debit card is NOT a loanrather it works like an
You are simpl
What is credit?
Credit (also called a debt or a liability) is money you
borrow that you promise to repay in the future. It is a
Youre granted credit when borrowing money from a
lender, generally a bank or credit card company, but this
what that new television really costs
To illustrate the 0% financing trap, lets consider a simple
example. You find two TVs on the Best Buy web site one
costing $1,100 and the other $360. Similar televisions, but the
more expensive one has a
Beware the perils of payday lenders (and check cashing
shops, rent-to-own facilities, pawn shops,)
Payday loans are called many different things, but they all
work basically the same way.
You write a postdated check in exchange for money
today; when you
Introduction to Finance
Part I BASIC ACCOUNTING PRINCIPLES
Before delving into strictly finance topics, an introduction
to accounting is necessary, as finance and accounting
although distinct fields are closely and crucially related.
While accounting i
Some loan basics
One of the most important things to remember when
borrowing money is DO NOT focus your negotiations on
the dollar amount of the monthly payment. Why?
Lets say you borrow money today for a car, and agree to
repay the loan with interest (