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1. • CommentAuthorprabhu281276
   • CommentTimeMay 1st 2007

    
   What is the differernce or similarity between Sundry Creditors, Bills payable and Accounts payable. Is all the three terms relate the same or whether they are different.
   
   When will the Sundry Creditors come in the Asset side of the Balance Sheet.
   
   What is SOX? When and where it is used?
2. • CommentAuthorprabhu281276
   • CommentTimeMay 8th 2007

    
   Iam very much confused to the first question. Some people say both are different but some people say both are same. Can you help me in finding out the correct solution for this.
   
   For the second question I dont really find the answer to the solution. Please help me.
3. • CommentAuthorabril
   • CommentTimeMay 9th 2007

    
   bills payable and accounts payable sound the same too me. i have never heard of sundry creditors. maybe there is another term for sundry creditor which is a lot clearer than that. like for example accounts payable are also refered as trade payables. try to find another term for sundry creditors. tell me if you got the answer.. hehehehe. tnx.
4. • CommentAuthoraakbar
   • CommentTimeMay 9th 2007

    
   In my Oppinion:
   Sundry Creditors/Accounts payable are same. creditors arises out of business trade, purchase of goods & serivices.
   Bills payable: Bills of exchangem\, Letter of Credit etc,...
   
   expecting comment on my answer. make this forum more interesting pls
5. • CommentAuthorDilawar
   • CommentTimeMay 23rd 2007

    
   Sundry creditors represent amounts owed to outside organizations resulting from deductions taken on the faculty/staff, biweekly, and awards payrolls and related University contributions
   
   Accounts Payable - AP:
   An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable entry is found on a balance sheet under the heading current liabilities.
   
   Accounts payable are often referred to as "payables".
   Another common usage of AP refers to a business department or division that is responsible for making payments owed by the company to suppliers and other creditors.
   
   Bills payable:
   It is same is Accounts payable
   
   Good luck
   
   thanks
6. • CommentAuthoradewest202
   • CommentTimeMay 23rd 2007

    
   bill payable, account payable and sundry creditor are the same. the difference is in british education, bill and acct payable are used for incorporation while creditor is used for small business.
   
   three of them are money owed to the company.