ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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SKIP PERSON Definition
SKIP PERSON is a transfer of property to a person who is in a generation below a child of the transferor, referred to as a "skip" person, typically a grandchild or great grandchild.
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WORK IN PROGRESS a piece of work that is not yet finished.
DEFICIENCY is a shortcoming in an internal control or an opportunity to strengthen internal controls.