IDEAS home Printed from https://ideas.repec.org/a/aio/aucsse/v2y2008i11p885-896.html
   My bibliography  Save this article

Accounting practices regarding merchandise imports on one’s own account, on short-term credit

Author

Listed:
  • Lucian Constantin Gabriel BUDACIA
  • Niculina ROSU-HAMZESCU

    (Romanian-American University Bucharest)

Abstract

The paper presents in the first part theoretical aspects regarding merchandise imports on one’s own account, on short term trade credit. In the second part it approaches a practical application of accounts related to merchandise imports on one’s own account, on short term trade credit. Foreign Trade Companies’ merchandise imports, as an indirect form of organizing foreign trade, contains the sum of operations by which merchandise necessary to the national economy is bought for production or individual consumption. Just like exporting, importing can be done by foreign trade companies on their own account, or on commission. In indirect importing, on foreign trade companies’ own account, the abovementioned act on foreign markets and onward on the internal market, in their own name, on their own account, and at their own risk. Thus, the financial results of the import activity are reflected, in full, in the administration of the importing foreign trade company. Merchandise imports bought on credit, i.e. imports for which payment is made at a particular date, is determined by the shortage of financial resources of the importer. It is common practice both for simple and complex merchandise, however, generally complex merchandise is more frequently the subject of on credit acquisitions.

Suggested Citation

  • Lucian Constantin Gabriel BUDACIA & Niculina ROSU-HAMZESCU, 2008. "Accounting practices regarding merchandise imports on one’s own account, on short-term credit," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 2(36), pages 885-896, may.
  • Handle: RePEc:aio:aucsse:v:2:y:2008:i:11:p:885-896
    as

    Download full text from publisher

    File URL: http://feaa.ucv.ro/AUCSSE/0036v2-029.pdf
    Download Restriction: no

    More about this item

    Keywords

    import; merchandise; accounting; credit.;

    JEL classification:

    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aio:aucsse:v:2:y:2008:i:11:p:885-896. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Anca Bandoi). General contact details of provider: http://edirc.repec.org/data/fecraro.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.