Consumer Credit Accounting.part 2

Consumer credit statement like Financial statement of any company shows details of the underlining health of the borrowing companies who get over quickly in two to three years.Consumer credit sheet of consumer credit banks invariably uses it and any other borrowing company tends to adopt credit and revenue accounting for debt free operation.Otherwise debt might be too much impossible to be affordable and poverty crashes.

If you look at the consumer credit sheet not balance sheet of the Consumer credit banks there is tied to the sovereign credit sheet of the CBM the two sides in the credit statement include credit( asset ) and debit (liability)equivalent of asset and liability in the balance sheet and then credit asset and debit liability, equivalent of profit and loss of the Financial statement,the statement of credit cash, equivalent of