Balance of Trade is the accounting of goods and service imported and exported.
Balance of Payments is the accounting of money owed and loaned other nations.
The difference between trade debtors and sundry debtors is trade debtors are specific debts like credit cards. Sundry debtors are a wide variety of debtors that can be from any source.
Trade receivables arising in normal course of business but other receivable is not.
The service balance refers to the difference between a country's exports and imports of services over a specific period. It is a component of the broader balance of payments, which includes trade in goods, services, income, and current transfers. A positive service balance indicates that a country is earning more from its services provided to foreign entities than it spends on services received from abroad, while a negative balance shows the opposite. This balance can significantly impact a nation's economic health and exchange rate dynamics.
At Year End usually there is a balance sheet item called "Trade Creditors" or something similar, this should be documented with a complete list of outstanding invoices with payment due to you.
Trade payables, or accounts payable, are categorised under Current Liabilities in the balance sheet.
the balance of trade is how much you receive the balance of payment is how much you pay
Balance of payment is the difference between the money coming into the country and the money leaving the same country.
balance of payment is the difference between exports and imports so if Australia's exports trade balance exceeds its imports trade balance then it is positive
Balance of Trade is the accounting of goods and service imported and exported. Balance of Payments is the accounting of money owed and loaned other nations.
The difference between the value of imports and exports of a country is the balance of trade. It is a country's largest component of balance of payments.
The balance of trade.
Trade in goods Trade in service Imports and Transfer are the 4 main element of the balance of payment.
The balance of trade (or net) is the difference between monetary value of exports and imports of output in an economy.
A balance of trade is the difference between the monetary value of exports and imports in an economy over a certain time period.
Balance of trade
Plus $85 billion
Basically, the balance of trade is when the difference in value between a country's imports and exports is more or less equal.