AGE OF INVENTORY Definition

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AGE OF INVENTORY see DAYS INVENTORY.

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CONTROL DEFICIENCIES exist when the design or operation of a control does not allow employees, in their assigned functions, to prevent or detect misstatements on a timely basis.

INTEREST EARNINGS is amounts from interest on all interest-bearing deposits and accounts; accrued interest on investment securities sold; interest on funds held for construction; and interest related public debt for private purposes. Excludes interest on deposits and investments of employee retirement and other insurance trust funds; dividends from investments; accrued interest on bonds issued by the government; recorded profits on sale of investments; and accrued interest on the purchase of investments.

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