27-01-2011, 01:21 PM
(27-01-2011, 11:45 AM)Musicwhiz Wrote: 5) Under Financing Cash Flows, what the heck is "Net Advancement from Invoice Financing"?? I've studied many years of accounting but never came across such a colourful term. Considring it's about HK$50 million INFLOW, shareholders should be very concerned indeed.
My guess is that this refers to 'Factoring' whereby companies pay commercial banks a fee or a percentage of the invoice amount for a loan?
e.g: Commercial Banking- Factoring by ING
Any one familiar with commercial banking who can explain this?