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Bank Of Amsterdam
The Bank of Amsterdam ( nl, Amsterdamsche Wisselbank, lit=Exchange Bank of Amsterdam) was an early bank, vouched for by the city of Amsterdam, and established in 1609. It was the first public bank to offer accounts not directly convertible to coin. As such, it has been described as the first true central bank, even though that view is not uniformly shared and a similar claim has been made for the Taula de canvi of Barcelona, established two centuries earlier. Unlike the Bank of England, established almost a century later, it neither managed the national currency nor acted as a lending institution (except to the government in emergencies); it was intended to defend coinage standard. The role of the Wisselbank was to correctly estimate the value of coins and thus make debasement less profitable. It occupied a central position in the financial world of its day, providing an effective, efficient and trusted system for national and international payments, and introduced the first ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insolvent
In accounting, insolvency is the state of being unable to pay the debts, by a person or company ( debtor), at maturity; those in a state of insolvency are said to be ''insolvent''. There are two forms: cash-flow insolvency and balance-sheet insolvency. Cash-flow insolvency is when a person or company has enough assets to pay what is owed, but does not have the appropriate form of payment. For example, a person may own a large house and a valuable car, but not have enough liquid assets to pay a debt when it falls due. Cash-flow insolvency can usually be resolved by negotiation. For example, the bill collector may wait until the car is sold and the debtor agrees to pay a penalty. Balance-sheet insolvency is when a person or company does not have enough assets to pay all of their debts. The person or company might enter bankruptcy, but not necessarily. Once a loss is accepted by all parties, negotiation is often able to resolve the situation without bankruptcy. A company t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ledger
A ledger is a book or collection of accounts in which account transactions are recorded. Each account has an opening or carry-forward balance, and would record each transaction as either a debit or credit in separate columns, and the ending or closing balance. Overview The ledger is a permanent summary of all amounts entered in supporting journals which list individual transactions by date. Every transaction flows from a journal, to one or more ledgers. A company's financial statements are generated from summary totals in the ledgers. Ledgers include: * Sales ledger, records accounts receivable. This ledger consists of the financial transactions made by customers to the company. * Purchase ledger records money spent for purchasing by the company. * General ledger representing the five main account types: assets, liabilities, income, expenses, and capital. For every debit recorded in a ledger, there must be a corresponding credit, so that the debits equal the credits ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Journal
A general journal is a daybook or subsidiary journal in which transactions relating to adjustment entries, opening stock, depreciation, accounting errors etc. are recorded. The source documents for general journal entries may be journal vouchers, copies of management reports and invoices. Journals are prime entry books, and may also be referred to as ''books of original entry'', from when transactions were written in a journal before they were manually posted to accounts in the general ledger or a subsidiary ledger. It is where double entry bookkeeping entries are recorded by debiting one or more accounts and crediting another one or more accounts with the same total amount. The total amount debited and the total amount credited should always be equal, thereby ensuring the accounting equation is maintained. In manual accounting information systems, a variety of special journals may be used, such as a sales journal, purchase journal, cash receipts journal, disbursement journ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Usher (occupation)
An usher is a person who welcomes and shows people where to sit, especially at a church, theatre or when attending a wedding. History The word comes from the Latin '' ostiarius'' ("porter", "doorman") through Norman French, and is a cognate of the French '' huissier''. Ushers were servants or courtiers who showed or ushered visitors in and out of meetings in large houses or palaces. In the United Kingdom, a variety of titles for courtiers in the Royal Household include the word ''usher''. In England, Wales, Scotland and Ireland, from the early sixteenth century until at least the end of the nineteenth century, the term denoted an assistant to a schoolmaster or head-teacher; an under-master, assistant-master. In such use, however, the term is now rare. Duties Ushers assist visitors by formally showing the way in a large building or to their appropriate seats. This may coincide with a security role. At weddings, friends of the groom and bride may be recruited to direct gu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jan Wagenaar
Jan Wagenaar (25 October 1709 – 1 March 1773) was a Dutch historian, best known for his contributions to ''Tegenwoordige staat van nederland'' and ''Vaderlandsche Historie''. Biography Wagenaar was born in Amsterdam to a Mennonite master shoemaker of the same name and Maria Saftleven, a descendant of the landscape painter Herman Saftleven. He was schooled in reading and mathematics and finished his education at a French school in Amsterdam. He was known for his poems and made his first play at age twelve, which was published without his consent. In 1722 another poem was published in '' Haarlem'' that he wrote for the village sacristan of Zandvoort. He was apprenticed to a Catholic merchant and later became a wood trader, but having trained himself in historical subjects through intense reading of the classics, he became a writer. His most famous work is ''Vaderlandsche historie'' (Amsterdam, 1749-1760, 21 vols), which became so popular it was continued by others (Amsterda ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vroedschap
The vroedschap () was the name for the (all male) city council in the early modern Netherlands; the member of such a council was called a ''vroedman'', literally a "wise man". An honorific title of the ''vroedschap'' was the ''vroede vaderen'', the "wise fathers" Most early modern Dutch cities were ruled by a government of male burghers or ''poorters'' (bourgeois) who were members of the regent class, the ruling elite. During late Medieval times, the regents had in all cities gradually managed to exclude men of the artisan class from membership, making themselves a sort of hereditary city nobility. In the Dutch Republic, a city administration consisted of the magistrate and the ''vroedschap''. The magistrate (or city government) consisted of a number, often four, of burgomasters assisted by a number of aldermen (''schepenen''), and looked after the daily administration of the city. In most cities, the mayors were chosen for a period of four years. The previous (and usuall ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Schepenen
A schepen (Dutch; . ') or échevin (French) or Schöffe (German) is a municipal officer in Belgium and formerly the Netherlands. It has been replaced by the ' in the Netherlands (a municipal executive). In modern Belgium, the ''schepen'' or ''échevin'' is part of the municipal government. Depending on the context, it may be roughly translated as an alderman, councillor, or magistrate. Name The Dutch word ''schepen'' comes from the Old Saxon word ''scepino'' 'judge' and is related to German ''Schöffe'' 'lay magistrate'. In early Medieval Latin used in France, it was ''scabinus''. Originally, the word referred to member of a council of "deciders" – literally, "judgment finders" (''oordeelvinders'') – that sat at a mandatory public assembly called a ''ding'' ("thing" in English). Their judgments originally required ratification by a majority of the people present. Later, mandatory attendance (''dingplicht'') and ratification were no longer required. Belgium In Flanders, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Book-entry
Book entry is a system of tracking ownership of securities where no certificate is given to investors. Several terms are often used interchangeably with "book entry" shares including "paperless shares", "electronic shares", "digital shares", "digital stock certificates", and "uncertificated shares". Some of these terms have somewhat different connotations but, at least in the United States, state securities laws only recognize certificated and uncertificated shares. In the case of book-entry-only (BEO) issues, while investors do not receive certificates, a custodian holds one or more global certificates. Dematerialized securities, in contrast, are ones in which no certificates exist; instead, the security issuer, its agent or a central securities depository keeps records, usually electronically of who holds outstanding securities. Most investors who use an online broker or even a regular full-service broker will have their shares held in book-entry form. This is generally conven ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Currency
Trade coins are coins minted by a government, but not necessarily legal tender within the territory of the issuing country. These quasi bullion coins (in rarer cases small change) were thus actually export goods - that is, bullion in the form of coins, used to bulk buy important goods from other countries, where they could be bought at a favourable price, compared to the purchasing power of the same amount of bullion within the trade coins' country of origin. A distinction must be drawn between full value bullion trade coins, that were used in ordinary peacetime trade on the one hand, and on the other hand debased coins, that were usually made with the intention to deceive. Such debased "trade coins" were occasionally minted during times of war, e.g. the Prussian ephraimiten, silver-clad copper coins minted during the Seven Years' War. If these were ever accepted or approved as legal tender, they would be valued far below the regular coins, their value being calculated according ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exchange Rate
In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of the euro. The exchange rate is also regarded as the value of one country's currency in relation to another currency. For example, an interbank exchange rate of 114 Japanese yen to the United States dollar means that ¥114 will be exchanged for or that will be exchanged for ¥114. In this case it is said that the price of a dollar in relation to yen is ¥114, or equivalently that the price of a yen in relation to dollars is $1/114. Each country determines the exchange rate regime that will apply to its currency. For example, a currency may be floating, pegged (fixed), or a hybrid. Governments can impose certain limits and controls on exchange rates. Countries can also have a strong or weak currency. There is no agreement in the econo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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