ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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NEGATIVE WORKING CAPITAL Definition
NEGATIVE WORKING CAPITAL is when current liabilities exceed current assets.
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OVERALL REVIEW, in accounting, is the stage of the audit where the assessment of conclusions reached and evaluation of the overall financial statement presentation. The overall review includes reading the financial statements and notes and considering adequacy of evidence gathered in response to unusual or unexpected balances. Results of an overall review may indicate the need for additional evidence.
NET, in general, is the figure remaining after all relevant deductions have been made from the starting, or gross, amount.