Movement of a check from the bank in which it was deposited to the bank on which it was drawn, and the movement of its face amount in the opposite direction. This process (called 'clearing cycle') normally results in a credit to the account at the bank of deposit, and an equivalent debit to the ...
Trade credit facility under which goods are delivered or services are provided to creditworthy customers, who agree to pay for them a certain period (commonly 30 days) after the date of invoice. Each customer normally has a 'credit limit' beyond which goods or services are provided only on cash ...
If there is a difference in a depreciation cost, a notation is made in the financial statement. This affects depreciation expenses. This serves as a proper notification to company personnel and investors.
Professional member of the UK's Association of Chartered Certified Accountants (ACCA). The association prescribes a broad and practical training for its members, who usually qualify while being employed in accounting or finance related fields. The equivalent US professional is a certified public ...
Authorization issued by a designated state agency to another state agency approving its purchase of a requested item.
'I owe you'note issued by a borrower evidencing his or her promise to pay a specified sum on the stated date.
Document verified by an architect, engineer, or owner of a construction project that the noted work has been completed and is approved for payment by the general contractor.
Deposit account for which a bank (or other financial institution) issues a certificate of deposit (CD).
