Practice in seasonal industries (specially those with long lead times) where manufacturers ship goods well in advance of the actual delivery dates (for example, in September instead of November for Christmas stock). In this arrangement, the buyer gets the advantage of offering 'pre-Christmas sale,' ...
Date announced (by the board of directors of a firm) as the date on or before which a stockholder (shareholder) must own shares to be eligible for receiving a dividend. Shares sold after the date of record are called ex-dividend shares.
Bill of exchange that becomes payable (matures) on a fixed date, irrespective of the date it was accepted by the payer.
Operations performed on a given set of data to extract the required information in an appropriate form such as diagrams, reports, or tables. See also electronic data processing.
Debit balance without a credit balance against which it can be balanced or written off. For example, the amount a firm paid as goodwill (in acquiring another firm) but which it does not want to show it as such in its balance sheet. Dangling debits are listed in the financial statements either as ...
Savings account in which interest on the account balance is computed and compounded every day. Crediting of the interest to the account, however, takes place usually on a monthly basis.
Some residents and visitors in the small city of Taos, New Mexico, have for years been annoyed and puzzled by a mysterious and faint low-frequency hum in the desert air. Oddly, only about 2 percent of Taos residents report hearing the sound. Some believe it is caused by unusual acoustics; others ...
The idea in accounting that once an accounting method is adopted, it should be followed consistently from one accounting period to the next. If, for any reason, the accounting method is changed, a full disclosure of the change and an explanation of its effects on the items of the financial ...
