ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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COOKIE JAR RESERVES Definition
COOKIE JAR RESERVES is an overly aggressive accrual of operating expenses and the creation of liability accounts done in an effort to reduce future year operating expenses.
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FRF is an acronym for French Francs.
INCOMPATIBLE DUTIES arise in internal control systems because positive control relies on separation of duties to reduce the chance of errors or fraud. Duties are incompatible if they should be separated for control. For example, one person should not be in a position to both embezzle funds and to hide that embezzlement by changing the recorded accountability.
