AUXILIARY JOURNAL Definition

Bookmark and Share

AUXILIARY JOURNAL is a journal in which accounting information is stored both before and after the transfer to the General Ledger.

Learn new Accounting Terms

FUNCTIONAL CURRENCY, generally, is the currency of record for any given entity. Within the context of foreign currency, it is the currency which a foreign subsidiary handles on a day-to-day basis in generating net cash flows. It is normally the currency of the country in which the subsidiary operates, but may be the currency of the parent company.

PRIME RATE is the interest rate that banks charge to their preferred customers. Changes in the prime rate influence changes in other rates; mortgage interest rates for example.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.