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Accounts payable - a record of all short-term (less than 12 months) invoices, bills and other liabilities yet to be paid. Examples of accounts payable include invoices for goods or services, bills for utilities and tax payments due.Accounts receivable - a record of all short-term (less than 12 months) expected payments,

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Sources of FinanceEmerging trends in source of finance for national and international companies:The Long-Term Finance may be Raised by the Companies from the following Sources:-Capital Market:Capital market denotes an arrangement whereby transactions involving the procurement and supply of long-term funds take place among various organizations. In the capital market, the companies raise funds by issuing shares and debentures of different types. When long-term capital is initially raised by new companies or by existing companies by issuing additional shares or debentures, the transactions are said to take place in the market for new capital called, as 'New Issue Market'. Retained Profits or Reinvestment of Profits:An important source of long-term finance for ongoing profitable companies is the amount of profit which is accumulated as general reserve from year to year. To the extent profits are not distributed as dividend to the shareholders, the retained amount can be reinvested for expansion or diversification of business activities. Retained profit is an internal source of finance. Hence it does not involve any cost of floatation which has to be incurred to raise finance from external sources.Special Financial Institutions:A large number of financial institutions have been established in India for providing long-term financial assistance to industrial enterprises. There are many all-India institutions likea. Industrial Finance Corporation of India (IFCI)

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