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Balance (accounting) In banking and accounting, the balance is the amount of money owed (or due) on an account. In bookkeeping, “balance” is the difference between the sum of debit entries and the sum of credit entries entered into an account during a financial period. [ 1] When total debits exceed the total credits, the account indicates a ...
Mass balance. In physics, a mass balance, also called a material balance, is an application of conservation of mass [ 1] to the analysis of physical systems. By accounting for material entering and leaving a system, mass flows can be identified which might have been unknown, or difficult to measure without this technique.
A trial balance is an internal financial statement that lists the adjusted closing balances of all the general ledger accounts (both revenue and capital) contained in the ledger of a business as at a specific date. This list will contain the name of each nominal ledger account in the order of liquidity and the value of that nominal ledger balance.
A balance sheet is often described as a "snapshot of a company's financial condition". [ 1] It is the summary of each and every financial statement of an organization . Of the four basic financial statements, the balance sheet is the only statement which applies to a single point in time of a business's calendar year. [ 2]
A scale or balance is a device used to measure weight or mass. These are also known as mass scales, weight scales, mass balances, massometers, and weight balances . The traditional scale consists of two plates or bowls suspended at equal distances from a fulcrum. One plate holds an object of unknown mass (or weight ), while objects of known ...
Check kiting. An example of a check, an instrument potentially used for kiting. Check kiting or cheque kiting (see spelling differences) is a form of check fraud, involving taking advantage of the float to make use of non-existent funds in a checking or other bank account. In this way, instead of being used as a negotiable instrument, checks ...
Cash and cash equivalents ( CCE) are the most liquid current assets found on a business's balance sheet. Cash equivalents are short-term commitments "with temporarily idle cash and easily convertible into a known cash amount". [ 1] An investment normally counts as a cash equivalent when it has a short maturity period of 90 days or less, and can ...
Checksum. A checksum is a small-sized block of data derived from another block of digital data for the purpose of detecting errors that may have been introduced during its transmission or storage. By themselves, checksums are often used to verify data integrity but are not relied upon to verify data authenticity. [ 1]