Letter of Credit
What do you mean by Letter of Credit?
Expert
Letter of Credit (abbreviated as LC) is a set of documents that are very necessary for goods being transported from one country to the other. This set comprises that of invoices, shipping documents, guarantees and others.
It is a letter of credit points out that for the customer’s ability (that is, credit limit) and in other words LC is a commitment from bank to the receiver for the payment.
Project Accounting: It is sometimes termed to as job cost accounting and is the practice of making financial reports particularly designed to track financial growth of projects, which can then be utilized by managers to support project management.
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