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April 01, 2026, 09:39:50 pm

Author Topic: Just to clarify things regarding sundry creditors and creditors control?  (Read 1179 times)  Share 

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Ematuro

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Just did a paper, and it said that sundry creditors are for purchases of non current assets whereas creditors control are for all purchases of stock.
Can I just ask.. are sundry creditors only for purchases of NCAs? In my response I said that they are for credit purchases of everything other than stock. And this includes current assets as well. Am I incorrent in saying that?

sam.utute

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Re: Just to clarify things regarding sundry creditors and creditors control?
« Reply #1 on: October 13, 2011, 09:13:15 am »
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Just did a paper, and it said that sundry creditors are for purchases of non current assets whereas creditors control are for all purchases of stock.
Can I just ask.. are sundry creditors only for purchases of NCAs? In my response I said that they are for credit purchases of everything other than stock. And this includes current assets as well. Am I incorrent in saying that?
Nope, you answer is fine (it's more accurate really).
Creditors control = stock, sundry creditor = everything else.
You only study sundry creditors in terms on purchasing NCA (a restriction placed by the study design), so that might be why they had that answer.

Ematuro

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Re: Just to clarify things regarding sundry creditors and creditors control?
« Reply #2 on: October 13, 2011, 05:01:17 pm »
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I see. Thanks a lot! :)

Hodgeyhodgey

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Re: Just to clarify things regarding sundry creditors and creditors control?
« Reply #3 on: October 13, 2011, 06:42:02 pm »
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Creditors control includes trade creditors, so it only deals with assets that are bought/sold on a day-to-day basis i.e. stock. So yes, sundry creditors in this instance deal with everything bar stock.
2010/11: Further Math|Accounting|BusMan|Englang|Economics|Physics [90.65]
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