ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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ACCEPTANCE SAMPLING Definition
ACCEPTANCE SAMPLING is statistical sampling to determine whether internal control compliance is greater than or less than the tolerable deviation rate.
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VALUATION PROCEDURE is the act, manner, and technique of performing the steps of an appraisal method.
FUND BALANCE is when liabilities are subtracted from assets, there is a fund balance. A positive fund balance means there are more assets than liabilities; a negative fund balance means just the opposite. Fund balance can be complicated by the fact that part of the fund balance is reserved and part unreserved. The difference between reserved and unreserved is that the unreserved can potentially be authorized for future expenditures while the reserved cannot. Additionally, the fund balance is a residual and not necessarily a cash amount.