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Glossary of Credit Management Terms. Letter
O
Official Receiver:
The official receiver is an officer of the
court and Civil Servant employed by the insolvency service to manage
bankruptcies and compulsory company liquidations. The term “Official
Receiver” should never be confused with the administrative
receiver appointed by debenture holders etc.
Operating income (Loss):
Gross profit or loss less selling/administrative
expenses, payroll, depreciation/amortisation, etc.
Operating statement:
A business financial statement that lists
revenues, expenses, and net income throughout a given period. Because
of the various methods used to record transactions, the monetary
values shown on an income statement often can be misleading. Also
known as profit and
loss statement, earnings report,
earnings statement or income
statement.
Ordinary shares:
These generally carry no fixed rate of dividend,
unless they are deferred ordinary shares. They may receive a dividend,
in accordance with the amount of net profit made by the company
(or deriving from previous years’ profits retained in the
business) but these days many private companies do not pay dividends,
retaining all the profits for the business.
Other current assets:
Includes Bills of Exchange, bank certificates,
taxation, recoverable.
Other current liabilities:
Including hire purchase agreements, proposed dividends, sundry deposits,
social security payments, National Insurance payments etc.
Other income:
Income other than that from the sale of goods
or services e.g. investments.
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