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ACCA FM知识点：Bank loans and overdrafts
文章来源：ACCA全球官网
发布时间：2021-11-22 14:13
阅读：655次
财务管理教学大纲的E部分涉及商业财务：什么类型的财务？什么来源？什么组合？首先考虑企业的形成和初始增长，然后是成熟和成熟的公司，并将研究在不同阶段可能面临的融资选择和决策。本文重点讲解Bank loans and overdrafts。
Section E of Financial Management syllabus deals with business finance:What types of finance?What sources?What mix?
The article will first consider a business’s formation and initial growth,then a company that is well-established and mature,and will look at the financing choices and decisions that could face it at various stages.
Formation and initial growth
Many businesses begin with finance contributed by their owners and owners’families.If they start as unincorporated businesses,the distinction between owners’capital and owners’loans is almost irrelevant.If it starts as an incorporated business,or turns into one,then there are important differences between share capital and loans.Share capital is more or less permanent and can give suppliers and lenders some confidence that the owners are being serious and are willing to risk significant resources.If the owners’friends and families do not themselves want to invest(perhaps they have no money to invest)then the owners will have to look for outside sources of capital.The main sources are:
bank loans and overdrafts
leasing/hire purchase
trade credit
government grants,loans and guarantees
venture capitalists and business angels
invoice discounting and factoring
retained profits.
Bank loans and overdrafts
In the current economic climate,start-up businesses are likely to find it difficult to raise a bank loan,particularly if the business and its owners have no track record at all.Banks will certainly require:
A business plan,including cash flow forecasts.
Personal guarantees and charges on personal assets.
The personal guarantees and charges on personal assets get round the company’s limited liability which would otherwise mean that if the company failed,the bank might be left with nothing.This way the bank can ask the guarantors to pay back the loans personally,or the bank can seize the charged assets that were used for security.
Note that overdrafts are repayable on demand and many banks have a reputation of pre-emptively withdrawing overdraft facilities,not when a business is in trouble,but when the bank fears more difficult times ahead.
On a more positive note,where it is known that the need for finance is temporary,an overdraft might be very suitable because it can be repaid by the borrower at any time.
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