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Title |
Teaser |
|---|---|
| BACK CHARGE |
item previously charged to an account but unpaid. The current invoice requests... |
| BACK ORDER |
customer's order that cannot be filled at the present time usually because the... |
| BACK UP |
to make a duplicate copy of original data or files usually stored on a separate data storage... |
| BACKFLUSH COSTING |
product costing approach, used in a JUST-INTIME (JIT) operating environment, in which costing is... |
| BACKUP WITHHOLDING |
procedure used to ensure that federal income tax is paid on earnings even though the recipient... |
| BAD DEBT |
account or note receivable that proves to be entirely or partially uncollectible... |
| BAD DEBT EXPENSE |
account shown in the income statement representing estimated uncollectible credit... |
| BAD DEBT RECOVERY |
account receivable previously written off as uncollectible is now collected. The... |
| BAILMENT |
contractual transfer of dollars or personal property for a specified objective. An example is... |
| BAILOUT PAYBACK METHOD PAYBACK PERIOD |
method incorporating the salvage value of the asset into the calculation. It... |
| BAIT RECORDS |
internal control device. Bait or dummy records may be in computer files so the... |
| BALANCE |
1. difference between total debits and total credits in an account.
|
| BALANCE OF PAYMENTS |
record of the transactions of a country with the rest of the world. There are... |
| BALANCE OF RETAINED EARNINGS |
accompanies the balance sheet and shows the beginning balance of retained earnings... |
| Balance Sheet |
Reports the amount of assets, liabilities, and stockholders' equity of an accounting... |
| BALANCE SHEET ACCOUNT |
appears in the balance sheet. Unlike income statement accounts that are NOMINAL ACCOUNTS,... |
| Balance Sheet Equation |
Assets = Liabilities + Stockholders' Equity. |
| balance-of-payments deficit |
An excess demand for foreign currency at current exchange rates. |
| balance-of-payments surplus |
An excess demand for domestic currency at current exchange rates. |
| BALANCED BUDGET |
one in which total expenditures equal total revenue. An entity has a budget... |
| BALANCED SCORECARD |
approach using multiple measures to evaluate managerial performance. These... |
| BALLOON |
last loan payment when it is significantly more than the prior payments; also... |
| BANK BALANCE |
amount in a bank deposit account, such as a checking or savings account, as of a certain... |
| Bank Reconciliation |
Process of verifying the accuracy of both the bank statement and the cash accounts of a... |
| BANK RECONCILIATION |
term used when settling differences contained in the BANK STATEMENT and the cash account in the... |
| bank reserves |
Assets held by a bank to fulfill its deposit obligations. |
| Bank Statement |
Monthly report from a bank that shows deposits recorded, checks cleared, other debits and... |
| BANK STATEMENT |
form prepared by the bank and sent to the depositor to show transactions in the... |
| BANKER'S ACCEPTANCE |
time draft drawn by a business firm whose payment is guaranteed by the bank's... |
| BANKRUPTCY (BUSINESS) |
situation in which a business' debt exceeds the fair market value of its assets.... |
| BANKRUPTCY (PERSONAL) |
legal process that is available for an individual who is overextended financially... |
| BANKRUPTCY PREDICTION |
ability of an auditor to project whether the client has a going-concern problem. If it does have... |
| BARGAIN PURCHASE |
asset or goods acquired for materially less than fair market value. For example, a... |
| BARGAIN PURCHASE OPTION |
one of the four criteria to be satisfied for a lessee to account for leased... |
| BARGAIN RENEWAL OPTION |
lessee's ability to renew a lease at sub-sequent minimal rental payments. Minimal... |
| barriers to entry |
Obstacles such as patents that make it difficult or impossible for wouldbe producers to enter a... |
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