ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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ADJUSTMENTS TO GROSS SALES Definition
Adjustments will vary dependent upon how the company accounts for its revenue and exceptional transactions. Enter the amount for "Adjustments to Gross Sales", or its equivalent, as reported in the company's financial reporting document in 1,000's. Enter a zero for no adjustments.
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BOY is Beginning Of Year.
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.
