Search results
Results from the WOW.Com Content Network
The imprest system is a form of financial accounting.The most common is petty cash. [1] The basic characteristic of an imprest system is that a fixed amount is reserved, which after a certain period or when circumstances require, because money was spent, will be replenished.
A petty cash book is a record of small-value purchases before they are later transferred to the ledger and final accounts; it is maintained by a petty or junior cashier. This type of cash book usually uses the imprest system: a certain amount of money is provided to the petty cashier by the senior cashier. This money is to cater for minor ...
Every entry to an account requires a corresponding and opposite entry to a different account. The double-entry system has two equal and corresponding sides, known as debit and credit; this is based on the fundamental accounting principle that for every debit, there must be an equal and opposite credit. A transaction in double-entry bookkeeping ...
For example: "All humans are mortal, and Socrates is a human. ∴ Socrates is mortal." ∵ Abbreviation of "because" or "since". Placed between two assertions, it means that the first one is implied by the second one. For example: "11 is prime ∵ it has no positive integer factors other than itself and one." ∋ 1. Abbreviation of "such that".
An example is an obligation to pay for goods or services received, where cash is to be paid out in a later accounting period. The amount is deducted from accrued expenses when it is paid. Accrued expenses share characteristics with deferred income (or deferred revenue ), except that deferred income involves cash received from a counterpart ...
Cash flow; Cash flow forecasting; Cash flow statement; Chart of accounts; Checkoff; Clean surplus accounting; Clearing account; Constant purchasing power accounting; Convention of consistency; Convention of disclosure; Cost of goods sold; Cost principle
Depending on authors, the term "maps" or the term "functions" may be reserved for specific kinds of functions or morphisms (e.g., function as an analytic term and map as a general term). mathematics See mathematics. multivalued A "multivalued function” from a set A to a set B is a function from A to the subsets of B.
Oversight of petty cash [3] is important because of the potential for abuse. Examples of petty cash controls include a limit on disbursements and monthly audits by someone other than the custodian. [4] Use of petty cash is sufficiently widespread that vouchers for use in reimbursement are available at any office supply store.