👉 The term "reconcession" is a concept in accounting and finance that refers to a process by which an organization or individual pays back money they owe another party, typically through a reduction of their outstanding debt. This can be done for various reasons such as the repayment of loans, investments, or other obligations. Reconcession involves paying back debts or commitments from creditors or suppliers in order to clear up any outstanding amounts owed them. It is often seen as a way for an organization to avoid additional
