ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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ACCRUED PAYROLL Definition
ACCRUED PAYROLL is a liability arising from employees salary expense that has been incurred but not paid.
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AVERAGE SETTLEMENT PERIOD is calculated: For Debtors = Trade Debtors X 365 days / Credit Sales
For Creditors = Trade Creditors X 365 days / Credit Purchases.
OVERSIGHT, in management, is overseeing the performance or operation of a person or group; or, generally, an unintentional omission resulting from failure to notice something.