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AccountantTerms
> Accounting
term that refers to the overall process of tracking your business's income and expenses, and then using these numbers in various calculations and formulas to answer specific questions about the financial and tax status of the business.
> Cash Letter
A group of checks accompanied by a paper listing sent to a clearinghouse, a Federal Reserve Bank, or another institution. A cash letter contains a number of negotiable items, mostly checks, accompanied by a letter that lists the amounts and instructions for transmittal to another bank. May also be called a transmittal letter.
> Accrual Method Of Accounting
In the context of a financial audit, audit findings represent weaknesses or deficiencies in internal controls, or instances of noncompliance with applicable laws and regulations, that are presented in an audit report.
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Did You Know?
Accountants work in different areas of practice.
Some accountants prefer to work alone, but in general they usually work for public accounting firms, the government or corporations.
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Latest accountant news in Washington and nationwide:
Jul 31, 2006 - FASB To Simplify Accounting For Separately Recognized Servicing Assets And Liabilities
The FASB today issued Statement of Financial Accounting Standards No. 156, Accounting for Servicing of Financial Assets. T... Read more >
Jul 14, 2006 - F.E.R.C, Strengthens Customer Protection, Facilitates Investment In Electricity Industry
The Federal Energy Regulatory Commission today harmonized provisions of two key Energy Policy Act of 2005 rulemakings addr... Read more >
Aug 22, 2005 - Discipline Against The Respondent
On October 29, 2001, bar counsel filed a five-count petition for discipline against the respondent. On February 27, 2002, ... Read more >
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