AskDefine | Define creditors

User Contributed Dictionary

English

Pronunciation

Noun

creditors
  1. Plural of creditor

Extensive Definition

A creditor is a party (e.g. person, organization, company, or government) that has a claim to the services of a second party. The first party, in general, has provided some property or service to the second party under the assumption (usually enforced by contract) that the second party will return an equivalent property or service. The second party is frequently called a debtor or borrower.
The term creditor is frequently used in the financial world, especially in reference to short term loans, long term bonds, and mortgages. In law, a person who has a money judgment entered in their favor by a court is called a judgement creditor.
The term creditor derives from the notion of credit. In modern America, credit refers to a rating which indicates the likelihood a borrower will pay back his or her loan. In earlier times, credit also referred to reputation or trustworthiness.

Accounting classification

In accounting presentation, creditors are to be broken down into 'amounts falling due within one year' or 'amounts falling due after more than one year'...
The financial statements presentation is this:

See also

creditors in Danish: Kreditor
creditors in German: Gläubiger
creditors in Estonian: Võlausaldaja
creditors in Spanish: Acreedor
creditors in French: Créancier
creditors in Korean: 채권자
creditors in Indonesian: Kreditur
creditors in Italian: Creditore
creditors in Lithuanian: Kreditorius
creditors in Dutch: Crediteur
creditors in Norwegian: Kreditor
creditors in Norwegian Nynorsk: Kreditor
creditors in Polish: Wierzyciel
creditors in Russian: Кредитор
creditors in Simple English: Creditor
creditors in Swedish: Borgenär
creditors in Ukrainian: Кредитор
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