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).

Situations

Situations is the second single by the American post-hardcore band, Escape the Fate. It was released on November 20, 2007.

Music video

On October 2, 2007 the music video for the song was uploaded to Epitaph Records' YouTube channel, it has since gone on to become the most popular music video on Epitaph, with nearly thirty-million views. The video takes place in a school, and consists of a character named "Thurman", teachers wearing provocative clothing, and more, as the band performs the song. The video's opening parodies that of the music video for rock band Van Halen's "Hot for Teacher".

References

External links

Situations (Cetu Javu song)

"Situations" (1988) is the second single by German synthpop band Cetu Javu. A new remixed version of the song was eventually released on their 1990 debut album Southern Lands.

Track listings

7" vinyl

12" vinyl

CD single

References

Situation (Sartre)

One of the first times in which Jean-Paul Sartre discussed the concept of situation was in his 1943 Being and Nothingness, where he famously said that

Earlier in 1939, in his short story The Childhood of a Leader, collected in his famous The Wall, referring to a fake turd, he said that in pranks "There is more destructive power in them than in all the works of Lenin." Another famous use of the term was in 1945, in his editorial of the first issue of Les Temps modernes (Modern Times); arguing the principle of the responsibility of the intellectual towards his own times and the principle of an engaged literature, he summarized: "the writer is in a situation with his epoch."

An, influential use of the concept was in the context of theatre, in his 1947 essay For a Theatre of Situations. A passage that has been frequently quoted is the following, in which he defines the Theater of Situations:

He then published his series Situations, with ten volumes on Literary Critiques and What Is Literature? (1947), the third volume (1949), Portraits (1964), Colonialism and Neocolonialism (1964), Problems of Marxism, Part 1 (1966), Problems of Marxism, Part 2 (1967), The Family Idiot (1971-2), Autour de 1968 and Melanges (1972), and Life/Situations: Essays Written and Spoken (1976).