ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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FLOAT is 1. the time between the deposit of checks in a bank and when the amount is truly accessible; 2. the amount of funds represented by checks that have been written but not yet presented for payment. Some entities will play the float by writing checks although there are insufficient funds actually on deposit to cover the checks; and, 3. total shares outstanding less any shares held by officers, directors or beneficial owners of 10% or more. Also called publicly held shares.
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BOOK VALUE OF EQUITY is the difference between the book value of assets and the book value of liabilities.
WORK IN PROGRESS a piece of work that is not yet finished.