- Отрасли: Accounting
- Number of terms: 7464
- Number of blossaries: 0
- Company Profile:
An offsetting balance. A requirement by some banks that a borrower maintain a minimum balance in a checking or savings account as a condition of a loan. The offsetting balance increases the effective interest rate to the bank since the net amount loaned is reduced but the interest paid is unchanged.
Industry:Accounting
are alternative ways of reporting and disclosing information in financial statements and related footnotes.
Industry:Accounting
are transactions between people who have no relationship other than that of buyer and seller. The price is the true fair market value of the goods or services sold. If you buy or sell something to a close relative, you might give better terms than to an unrelated party, so the price might not represent the true market value of the goods or services.
Industry:Accounting
Arrangement or grouping. Assets and liabilities are normally classified as current or noncurrent.
Industry:Accounting
of an internal audit staff is a function of qualifications, including education, certification, and supervision. Competent audit evidence is valid and reliable.
Industry:Accounting
An approximation of a financial statement element. Estimates are included in historical financial statements because some amounts are uncertain pending outcome of future events and relevant data about events that have occurred cannot be accumulated on a timely, cost-effective basis.
Industry:Accounting
Sampling to determine whether internal control compliance is greater than or less than the tolerable deviation rate.
Industry:Accounting
The characteristic tested is a property that has only two possible values (an error exists or it does not).
Industry:Accounting
A combination of the risk that material errors will occur in the accounting process and the risk the errors will not be discovered by audit tests. Audit risk includes uncertainties due to sampling (sampling risk) and to other factors (nonsampling risk).
Industry:Accounting
A complete set of rules other than U.S. GAAP applied to all items in a set of financial statements. Examples include a basis of accounting required by a regulatory agency, a basis of accounting the entity uses for its income tax return and the cash receipts and disbursements basis.
Industry:Accounting
