Information AboutCreditor |
| CATEGORIES ABOUT CREDITOR | |
| finance | |
| generally accepted accounting principles | |
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Simply put, creditors are people to whom someone owes money. The term creditor is frequently used in the financial world, especially in reference to short term Loan s, long term Bonds , and Mortgage s. In law, a person who has a money judgment entered in their favor by a court is called a judgement creditor. The term creditor derives from the notion of Credit . In modern America, credit refers to a rating which indicates the likelihood a borrower will pay back his or her loan. In earlier times, credit also referred to reputation or Trustworthiness . ACCOUNTING CLASSIFICATION In Accounting presentation, creditors are to be broken down into 'amounts falling due within one year' or 'amounts falling due after more than one year'... The Financial Statements presentation is this:
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