On Bank Analyst Doesn't Believe Customer Service is Worth It

@stuffisthings When you (as a company) take out a loan, it's a liability because you owe someone money. When you deposit your money at a bank, they have an obligation to give you that money back. They owe you money, hence, it's a liability for them. The other way to think about is that two entries are made. You hand them $100 cash so they increase their cash account by $100. For the balance sheet to stay in balance, there has to be either an off-setting decrease in another asset account or an increase in a liability account. As far as the article is concerned. The products that a bank sells (or any products really) are solutions to problems. So, people who "waste time solving customer's problems" ARE SELLING THEM PRODUCTS AND SERVICES YOU NIT WIT!

Posted on July 26, 2012 at 10:35 pm 0