Can someone tell me the accounting treatment for the debt factoring??
say, XYZ ltd has debtors of £40,000 -- and to help its cash flow position XYZ ltd get its debtors financed from any bank say Lloyds fincance. What will be the full accounting treatment for this?? Ofcourse, finance charge are there and other expenses are there too.
Look forward to your reply?
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Try reading the answers to www.accountingweb.co.uk/anyanswers/factroing-accounting-treatment.
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I have already typed out a full reply to this at least twice in the last five years