BANK BALANCE Definition

Bookmark and Share

BANK BALANCE is the amount of money in a bank account on a particular date as recorded by a financial institution on a bank statement.

Learn new Accounting Terms

PRIME COST is equal to the sum of DIRECT MATERIAL plus DIRECT LABOR.

OFF THE BOOKS is a term associated with transactions which do not appear in any of the financial records kept by a business. Strictly speaking, 'off the books' implies cash payments received for assets (products and services) which are not officially recorded in the accounting system of the business.

Suggest a Term

Enter Search Term

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