ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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ORDER TO CASH (OTC) Definition
ORDER-TO-CASH (OTC) is the process where everything that leads from the order, packaging, delivery to having the actual money in the bank is included.
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LETTER OF AUTHORIZATION (LOA) is a form that permits a Donor to provide written instructions to transfer a stock certificate in the Donor's name in full or in part to another party, such as a charitable organization, without using a transfer agent. This form given to the charitable organization with the designated stock certificate and a separate Stock Power is usually executed by the charitable organization's brokerage to expedite the sale and receipt of proceeds from the gift of securities.
NORMAL LOSS takes into account the nature of many process operations is such that the output volume is frequently less than the input volume. Because process operations are repetitive, the level of 'losses' of materials/product that could reasonably be expected under efficient operating conditions may be established. This is referred to as a 'normal' loss; one that is an inevitable consequence of the process operation under efficient operation conditions and is thus considered unavoidable. Losses greater (ABNORMAL LOSS) or less (ABNORMAL GAIN) than normal are referred to as 'abnormal' and result from reduced or greater efficiency.