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Staff Loan

Posted by Fouza on 07/13/2008 - 17:54

if one of your staff took a loan what do you consider it?

Maha Mohammed

  • 2048 reads


Comment on Staff Loan

We list staff loans as Wage Advances on our Balance Sheet in Current Assets - we don't loan more than a certain amount and employees must have it deducted from their paycheck within 3-6 months, depending on their length of service.

We charge an administrative fee of $35 for each advance - this usually deters most people from asking for a loan.

Posted by Anonymous on 08/13/2008 - 14:14
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Amidst a certain amount of controversy, the AICPA and the Chartered Institute of Management Accountants have launched a new designation for global management accountants, the CGMA (Chartered Global Management Accountant). The designation is available to members of both organizations.
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