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19 Cards in this Set

  • Front
  • Back
Aging of Accts Recievable
-Classifying accts into age groups
* estimates uncollectable portion on accts recievable
ex: current, 1-30 days overdue
Bank Reconciliation
diff. between balance of cash in bank statement, and depositor's records
Allowance for doubtful accoutns
show portion of recievables estimated to be uncollectable
Market-to-market
applied to investments in marketable securities
Line of credit
bank lends advance to borrower
*liability
factoring
uses accts. recievable
maturity date
date on which a not becomes due and payable
Maturity Value
value of a note at maturity date plus interest
NSF
Not Sufficient Funds
Cost Flow Assumption
sequence which units are removed from inventory for sale
- no physical movement
Cost Layer
units of merchandise acquired at the same unit cost
Cost Ratio
cost of merchandise expressed as a % of its retail selling price
FOB shipping point
buyer held responsible
FOB destination
seller held responsible till its at buyers location
Inventory Turnover Rate
COGS
--------
Avg. amt. of inventory
Moving average methode
used in perpetual system
Shrinkage Losses
losses of inventory from theft, spoilage, or breakage
Write-Down of asset
reduction in carrying amount of asset because its impaired
Accts. Recivables Turnover Rate
net sales
---------------
average recivables