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n a basic storage unit in an accounting system. Individual accounts accept debit and credit entries that reflect the different types of transactions made by the practice.
account book,
n a book in which the financial transactions of a business or profession are entered. Such books may be admitted as evidence.
account, open,
n a straightforward arrangement between the dental provider and the patient for the handling of financial payments due the dental provider and owed by the patient.
account, payable,
n a dollar amount owed to creditors for items or services purchased from them.
References in periodicals archive ?
Purveyors and purchasers of tax strategies that affect financial accounting income must now consider not only the costs and cashflow benefits of implementing such a strategy, but also whether and how the transaction must be disclosed to both investors and the Service.
Other reasons include the three- to five-year commitment to earn a doctorate, the cost of attending a doctoral program, the salary and professional advancement opportunities available in other jobs, the professional opportunity cost of being in school and a general lack of knowledge about what academic accountants do and the support available to those interested in pursuing doctorates in accounting.
However, the longer it takes to identify them, the more difficult and inefficient it becomes to reopen the accounting ledgers and record the transactions or to adjust the SEC registrant's financial statements.
Accounting frameworks should improve transparency around business decisions and outcomes without providing a disincentive to better management of risk.
Work on Phase II, detailing the accounting for insurance contracts, had become "dormant" over the past year after the IASB ran into opposition from the insurance industry, said Clark.
Frequently, there are sound policy reasons for divergence between tax and accounting principles, and a separate deliberative process for assessing tax changes will prevent unintended and undesirable consequences.
As a result of the oversight, the client faced a substantial increase in tax liability and sued the accounting firm for malpractice.
is Associate Professor of Accounting at Eastern Michigan University.
Retiring faculty members are just one reason that colleges and universities need accounting teachers.
Salva, Senior Vice President, Chief Accounting Officer and Controller, Comcast Corporation
Many accounting programs are finding it more difficult to staff their courses adequately and are hiring part-time adjunct or "clinical" faculty in greater numbers; other programs are reducing course offerings.

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