The number that identifies the bank against which a check is drawn. Every check has an American Bankers Association (ABA) transit number, usually located in the top-right corner. The number — actually, two numbers separated by a hyphen — identifies the bank’s location and the bank’s name.
ABC (activity-based costing) management:
An approach to cost accounting that tries to more accurately assign overhead costs and more precisely measure the profits of a firm’s products, services, and business units. Refer to Book 4, Chapter 4 for a more complete discussion.
The record of transactions in a checking, savings, securities, trust, or charge account, including the account’s up-to-date balance.
The number that identifies the holder of an account. All accounts must have an account number.
Allows an accountant to review/edit a client’s company file while at the same time the client can continue using and updating the file at his or her location.
The results of an audit of a company’s records and books.
An accounting method in which income gets recorded as it’s earned (typically, when you prepare an invoice) and expenses are recorded as they occur (typically, when you receive an invoice).
Interest earned on a bond or certificate of deposit but paid at some future date, such as when the bond or certificate of deposit ...
With Safari, you learn the way you learn best. Get unlimited access to videos, live online training,
learning paths, books, interactive tutorials, and more.