ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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SURPLUS generally means any excess amount, but in finance it is the remainder of a fund appropriated for a particular purpose. In a corporation, surplus means assets left after liabilities and debt, including capital stock, has been subtracted.
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BANKER'S ACCEPTANCE (BA) is a money market instrument that is issued in discounted form. A banker's acceptance is created when a bank accepts responsibility for payment of business debt by signing a letter of credit. Banker's acceptances are sold to acceptance dealers and may be resold to numerous other parties before the loan is repaid. The investor who last owns the acceptance when the debt becomes due has a right to collect from the borrower. Should the borrower default, the investor can also pursue payment from the accepting bank.