Search results
Results from the WOW.Com Content Network
A suspense account is an account used temporarily to carry doubtful entries and discrepancies pending their analysis and permanent classification. It can be a repository for monetary transactions (cash receipts, cash disbursements and journal entries) entered with invalid account numbers.
Forensic accounting, forensic accountancy or financial forensics is the specialty practice area of accounting that investigates whether firms engage in financial reporting misconduct, [1] or financial misconduct within the workplace by employees, officers or directors of the organization. [2]
A chart of accounts (COA) is a list of financial accounts and reference numbers, grouped into categories, such as assets, liabilities, equity, revenue and expenses, and used for recording transactions in the organization's general ledger.
Created Date: 8/30/2012 4:52:52 PM
Substance over form is an accounting principle used "to ensure that financial statements give a complete, relevant, and accurate picture of transactions and events". If an entity practices the 'substance over form' concept, then the financial statements will convey the overall financial reality of the entity (economic substance), rather than simply reporting the legal record of transactions ...
Summary of Mozambican Refugee Accounts of Principally Conflict-Related Experience in Mozambique Report Submitted to: Ambassador Jonathan Moore Director, Bureau for Refugee Programs
For example, a tenant who writes a rent cheque to a landlord would enter a credit for the bank account on which the cheque is drawn, and a debit in a rent expense account. Similarly, the landlord would enter a credit in the rent income account associated with the tenant and a debit for the bank account where the cheque is deposited.
Something had to be salvaged, however. So, against the better judgement of its IT specialists, the Post Office decided to use the system to transform its paper-based branch accounting into an electronic system covering the full range of Post Office services. The new Horizon project became the largest non-military IT contract in Europe.