Assumption: You work as a commercial loan officer in a local bank. The president of...
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Accounting
Assumption:
You work as a commercial loan officer in a local bank. The president of a small-to-medium sized fast-food restaurant chain, with 250 employees in five locations, comes into your bank and asks for a business loan of $400,000 to help fund his expansion plans for building two additional restaurant locations.
Question(s):
1-What would be your concerns as the loan officer?
2-What questions would you ask and what financial documents might you request of him/her?
3- Explain the importance of Accrual basis accounting and how you might possibly verify that this company is following Accrual basis accounting.
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