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Accounting > Letter of Credit
The following information is about Letter of Credit.
Letter of Credit Defined
Conditional bank commitment issued on behalf of a customer to pay a third party in accordance with certain terms and conditions. The two primary types are commercial letters of credit and standby letters of credit.
This definition is in context to Accounting. See more contextual defintions for Letter of Credit.
Satyam chief admits huge accounting fraud
Published January 7, 2009, 9:55 pm, San Jose Mercury News
Satyam Computer Services, a leading Indian outsourcing company that serves more than a third of the Fortune 500 companies, significantly inflated its earnings and assets for years, the chairman and co-founder said Wednesday, roiling Indian stock markets and throwing the industry into turmoil.
McGraw-Hill Hires Groves for New S&P Ombudsman Post (Update4)
Published January 7, 2009, 2:56 pm, Bloomberg
Jan. 7 (Bloomberg) -- McGraw-Hill Cos. named former Ernst & Young Chief Executive Officer Ray Groves ombudsman for its Standard & Poor’s credit-rating unit, as it seeks to regain the confidence of investors, regulators and lawmakers.
Cedar Bluffs working on audit issues
Published January 7, 2009, 2:14 pm, Papillion Times
WAHOO - The Cedar Bluffs village board is trying to find a way to move forward following the recent release of an audit report from the Nebraska Auditor of Public Accounts.
On the Job Training: Can Obama's Huge Infrastructure Program Really Work?
Published January 7, 2009, 2:06 pm, Knowledge at Wharton
President-elect Barack Obama's infrastructure plan has drawn considerable debate, but mostly over the details -- the size of the stimulus program, how to structure the plan to create the most jobs in the shortest time, and how to administer such a large program to limit corruption and pork-barrel projects. The bigger questions remain unanswered, including to what extent new jobs will actually be ...
Satyam Chairman Resigns After Falsifying Accounting (Update1)
Published January 7, 2009, 1:16 pm, Bloomberg
Jan. 7 (Bloomberg) -- Satyam Computer Services Ltd. Chairman Ramalinga Raju resigned after saying he falsified earnings and assets, prompting a collapse in the stock of India’s fourth-largest software-services provider.
Fraud
Published January 7, 2009, 12:10 pm, Express India
Marketmen have been baying for blood for weeks. To be sure, ever since investors thwarted Satyam Computer Services from buying the controversial Maytas twins last month, the Hyderabad-headquartered software firm has stumbled from one calamity to the next, leaving in its wake good governance, disgraced directors, cancelled contracts and vanishing valuations. But chairman B Ramalinga Raju's faxed ...
Blog: Huge fraud at Indian tech firm rocks markets
Published January 7, 2009, 12:10 pm, Los Angeles Times
No description is available for this news story.
Satyam Chief Admits Huge Accounting Fraud
Published January 7, 2009, 5:52 am, New York Times
A leading Indian outsourcing company massively inflated its earnings for years, the chairman said.
Indian software company chief quits in accounting scandal
Published January 7, 2009, 2:48 am, International Herald Tribune
Satyam Computer Services, a leading Indian outsourcing company that serves many of the world's biggest companies, massively inflated its earnings for years, the chairman said, throwing the industry into turmoil.
Clash continues in US over fair value
Published January 7, 2009, 12:16 am, Accountancy Age
A conflict has emerged between the the US standard setter FASB and one of its own advisory board over measures to soften the principles of fair value accounting.
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Off-site Letter of Credit Links, User Submitted
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- Understanding and Using Letters of Credit, Part I
- 14ccredt.pdf (application/p df objekt)
- The Circular Letter of Credit
- A Basic Guide to Exporting - Methods of Payment
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Mon Jul 30
- Wachovia Corporate & Institutional - Import/Export Basics: A listing of important trade methodologies including methods or payment, risk levels, letter of credit types and guidelines for beneficiaries when reviewing L/C's.
Wed Jul 25
- ubs bank forms: lc,dc swift, guarantee
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