Accounting: Basic charge or wage to which other fees or benefits are added.
Past period (month, quarter, year) used as a yardstick to compare new data. Base periods are usually given an arbitrary value of 100 when used in an index.
A recurring set of funds provided to a department at the onset of each budget period. The base budget is used to keep the department functioning, and is derived from the previous year's spending and adjustments such as inflation. It is not designed to fund special projects. See also non-base ...
A register that includes both deposits and withdrawals. This document can be checked against the bank statement to see if the transactions are correct.
Countersigning (endorsement) of a bill of exchange by the buyer's (or importer's) bank. Bankers acceptance establishes that payment of the bill on its maturity date is now guaranteed by the endorsing bank. Banks agree to countersign a bill of exchange when they are comfortable with the buyer's ...
Report released (on a fixed date every month) by banks that lists deposits, withdrawals, checks paid, interest earned, and service charges or penalties incurred on an account. It shows the cumulative effect of these transactions the account's balance, up to the date the report was prepared.
Interest rate at which a central bank will advance short term loans to commercial banks. Changes in bank rate are reflected in the prime lending rates offered by commercial banks (to their best customers), which in turn affect investments such as bank deposits, bond issues, mortgages. This term has ...
The accountants' or bookkeepers' responsibility to check bank statements thoroughly to report any mistakes between the financial institution and the company's financial records. By not reporting any discrepancies, the company could stand to lose money in unnecessary fees and transactions.
