ABNORMAL GAIN Definition

ABNORMAL GAIN see NORMAL LOSS.

Learn new Accounting Terms

BCL is an acronym for, among others, Bank Comfort Letter or Bachelor of Canon/Civil Law.

SWEEPING ACCOUNTS is when an entity zeros out a monetary asset account (takes the money) that does not meet an established mandatory monetary hurdle at which they will make a payment to the holder of that account, e.g., if a salesman does not make a certain amount of sales required over a time period, his company will not pay him commission on the sales that were made during that period and sweep his account balance to zero at the end of the time period.

Suggest a Term