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Cookie jar accounting or cookie jar reserves is an accounting practice in which a company takes a quantity of large reserves from an economically successful year and incurs them against losses from less successful years. Through this process, companies can mislead investors into believing that their losses are less than the actual value.
In financial accounting, reserve always has a credit balance and can refer to a part of shareholders' equity, a liability for estimated claims, or contra-asset for uncollectible accounts. A reserve can appear in any part of shareholders' equity except for contributed or basic share capital.
Also known as a bad debt reserve, this is a contra account listed within the current asset section of the balance sheet. The doubtful debt reserve holds a sum of money to allow a reduction in the accounts receivable ledger due to non-collection of debts. This can also be referred to as an allowance for bad debts.
Some of the general challenges that financial institutions face with regards to the ALLL estimation include the manual, time-intensive nature of the reserve estimation process each month or quarter; producing adequate documentation and disclosures; incorporating new accounting standards and regulations released by FASB and federal regulatory bodies, and increased scrutiny on the assumptions ...
Examples of types of liabilities include: money owing on a loan, money owing on a mortgage, or an IOU. Liabilities of sectors of USA economy, 1945-2017, based on flow of funds statistics of the Federal Reserve System. Liabilities are debts and obligations of the business they represent as creditor's claim on business assets.
With an enterprise value approximately $14.5 billion, LINN Energy - and by extension it's publicly traded sibling LinnCo - is moving up the ranks as one of the leading independent oil and natural ...
The Federal Reserve — also called the Fed — is the central bank of the United States and the anchor of the financial system. Its board of governors is appointed by the president and confirmed ...
Mortgage reserves refers to cash or other easily accessible assets you could use to make mortgage payments, above and beyond the down payment and closing costs. Reserves are measured in months ...