General accounting

General accounting

Use this category for general accounting terms.

Industry: Accounting

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General accounting

accountable plan

Accounting; General accounting

Expense plan under which an employee receives a certain sum of money, is required to account for all expenses, and return the remaining sum (if any) to the employer. The employee's taxable income ...

An accountant must exercise due care, and must follow established conventions and standards to present a 'true and fair view' of the financial position of an entity. He or she owes these ethical and ...

account balance

Accounting; General accounting

The net balance of assets and liabilities during an accounting period.

account code

Accounting; General accounting

Numbers, letters, or alphanumeric code assigned to every significant customer, supplier, and lender for ease of reference in an organization's accounting records.

account current

Accounting; General accounting

A type of account that is ongoing between two or more entities. Can also be referred to as a report summarizing the performance of each individual insurance agent in an agency.

account format

Accounting; General accounting

One of the two common arrangements in which the information in a balance sheet is presented. Account format lists assets on the left hand side, and liabilities and owners' equity on right hand side ...