General accounting

General accounting

Use this category for general accounting terms.

Industry: Accounting

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General accounting

below the line

Accounting; General accounting

Used to characterize items in an account that are excluded from the account total, such as appropriations and extraordinary items that have no effect on the profit or loss in the current accounting ...

benchmark job

Accounting; General accounting

Common and defined job (or job category) for which pay data, and legal and other specifications are readily available. Benchmark jobs are used to make pay and other comparisons.

beneficial interest

Accounting; General accounting

Right to enjoy and use a property, and to otherwise benefit from its possession. Beneficial interest usually accrues to the legal owner but may be vested in some other party, such as the beneficiary ...

beneficial owner

Accounting; General accounting

Entity that enjoys the possession and/or benefits of ownership (such as receipt of income) of a property even though its ownership (title) is in the name of another entity (called a 'nominee' or ...

beneficiary

Accounting; General accounting

Person or other legal entity for whose present or future interest (benefit) an annuity, assignment (such as a letter of credit), contract, insurance policy, judgment, promise, trust, will, etc., is ...

closely held account

Accounting; General accounting

A business or corporation owned by a few people that utilize this method for investments and securities

closing

Accounting; General accounting

Transfer of account balances from subsidiary ledgers (containing nominal or temporary accounts) to income summary account at the end of an accounting period. Also called closing the accounts or ...