ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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INITIAL TERM Definition
INITIAL TERM is normally the first time period covered under an agreement or contract (the Term) at the end of which the agreement will either terminate or be automatically renewed under set conditions (Renewal Term), e.g. a one year contract.
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POSTING, in bookkeeping, is to list on the companys records, such as to list the detail of sales and purchases on the accounts receivable or payable records.
AGA is Association of Government Accountants.