The Accounting Features of Factoring Operations in the Bank
Journal Title: Бізнес Інформ - Year 2015, Vol 11, Issue 0
Abstract
The article analyzes the theoretical and practical aspects of accounting for factoring operations. Results of theoretical studies have been summarized, scientifically substantiated recommendations on accounting for the factoring transactions in banks have been developed. Four groups of factoring services have been identified: classic factoring services; factoring services without prior funding; international factoring services; additional factoring products. The main benefits of using factoring for enterprises have been identified: gaining additional profits, saving on unnecessary costs, saving in the procurement of goods, protection from losses upon untimely paying by debtors, possibility of management of accounts receivable. In addition, advantages of providing factoring services for banks have been identified. An own vision of the accounting for factoring operations has been offered.
Authors and Affiliations
Artur Hniedkov
Keywords
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