BALANCE FORWARD ACCOUNTING Definition

Bookmark and Share

BALANCE FORWARD ACCOUNTING is where you maintain a list of charges and payments for each account. To find out the balance at any point in time, you add the charges, add the payments, and then subtract total payments from total charges. A billing statement is sent out every month with any balance carried forward from the previous statement

Learn new Accounting Terms

AGENCY COSTS is the incremental costs of having an Agent make decisions for a principal.

CURRENT ASSETS are those assets of a company that are reasonably expected to be realized in cash, or sold, or consumed during the normal operating cycle of the business (usually one year). Such assets include cash, accounts receivable and money due usually within one year, short-term investments, US government bonds, inventories, and prepaid expenses.

Suggest a Term

Enter Search Term

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