Credit

Credit may refer to:

See also

Debits and credits

In double entry bookkeeping, debits and credits (abbreviated Dr and Cr, respectively) are entries made in account ledgers to record changes in value resulting from business transactions. Generally speaking, the source account for the transaction is credited (that is, an entry is made on the right side of the account's ledger) and the destination account is debited (that is, an entry is made on the left side). Total debits must equal total credits for each transaction; individual transactions may require multiple debit and credit entries to record.

The difference between the total debits and total credits in a single account is the account's balance. If debits exceed credits, the account has a debit balance; if credits exceed debits, the account has a credit balance. For the company as a whole, the totals of debit balances and credit balances must be equal as shown in the trial balance report, otherwise an error has occurred.

Accountants use the trial balance to prepare financial statements (such as the balance sheet and income statement) which communicate information about the company's financial activities in a generally accepted standard format.

Credit (finance)

Credit (from Latin credit, "(he/she/it) believes") is the trust which allows one party to provide money or resources to another party where that second party does not reimburse the first party immediately (thereby generating a debt), but instead arranges either to repay or return those resources (or other materials of equal value) at a later date. The resources provided may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower.

Credit does not necessarily require money. The credit concept can be applied in barter economies as well, based on the direct exchange of goods and services. However, in modern societies, credit is usually denominated by a unit of account. Unlike money, credit itself cannot act as a unit of account.

Movements of financial capital are normally dependent on either credit or equity transfers. Credit is in turn dependent on the reputation or creditworthiness of the entity which takes responsibility for the funds. Credit is also traded in financial markets. The purest form is the credit default swap market, which is essentially a traded market in credit insurance. A credit default swap represents the price at which two parties exchange this risk – the protection seller takes the risk of default of the credit in return for a payment, commonly denoted in basis points (one basis point is 1/100 of a percent) of the notional amount to be referenced, while the protection buyer pays this premium and in the case of default of the underlying (a loan, bond or other receivable), delivers this receivable to the protection seller and receives from the seller the par amount (that is, is made whole).

Lome

Lome may refer to:

People:

Places:

Ships:

Other uses:

Lome (woreda)

Lome (also spelled Lume) is one of the woredas in the Oromia Region of Ethiopia. Part of the Misraq Shewa Zone located in the Great Rift Valley, Lome is bordered on the south by the Koka Reservoir, on the west by Ada'a Chukala, on the northwest by Gimbichu, on the north by the Amhara Region, and on the east by Adama. Mojo is the capital of the woreda; other towns and cities include Ejere, Ejersa and Koka.

Overview

Most of this woreda ranges in altitude from 1500 to 2300 meters above sea level, except for a small portion in the northern part, which is over 2300 in altitude. Rivers include the Modjo. A survey of the land in this woreda shows that 54.3% is arable or cultivable, 3% pasture, 2% forest, and the remaining 20% is considered degraded or otherwise unusable. Vegetables are an important cash crop.

Industry in the woreda includes 4 government-owned industries and 35 privately owned small businesses that employed 173 people, as well as 1278 registered business organizations which included 187 wholesalers, 495 retailers, and 298 service providers. There were 36 Farmers Associations with 11,138 members and 12 Farmers Service Cooperatives with 9974 members. Lome has 89 kilometers of dry-weather and 96 of all-weather road, for an average road density of 260.5 kilometers per 1000 square kilometers. About 48% of the rural, 83% of the urban and 60% of the total population has access to drinking water. Lomo also has rail access provided by the Addis Ababa - Djibouti Railway.

Lomé

Lomé, with a population of 837,437 (metro population 1,570,283), is the capital and largest city of Togo. Located on the Gulf of Guinea, Lomé is the country's administrative and industrial center and its chief port. The city exports coffee, cocoa, copra, and palm kernels. It also has an oil refinery.

History

The city was founded in the 18th century by the Ewe people.

The city's population grew rapidly in the second half of the 20th century. The city had approximately 30,000 inhabitants in 1950: by 1960 (the year Togo gained its independence from France) the population had reached 80,000, increasing to 200,000 by 1970.

Since 1975, investments grew by 10% in the past year and had been targeted for development. At the same time, railways, which have an important role in serving the suburbs of the city, deteriorated however.

Market gardening around the city increased, spurred by growing unemployment, rural migration and the demand for vegetables. Market gardening, first extended to the north, is carried on mainly along the beach (whose sand is very salty), and planting hedges provides protection.