ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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OPEN ITEM Definition
OPEN ITEM is a contractual or scheduled commitment that is not yet reflected in Financial Accounting but will lead to actual expenditures in the future, e.g. a purchase order that is not shipped in full will list those unshipped items as open items within the shipping invoice.
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CARTE BLANCHE is unrestricted power to act at ones own discretion, i.e. unconditional authority.
JV is Journal Voucher or Joint Venture.