CASHIERS CHECK Definition

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CASHIERS CHECK; also known as a bank check, official check, tellers check, bank draft or treasurers check; is a check guaranteed by a bank. They are normally treated as cash because most banks clear them instantly.

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SEPARATE VALUATION CONCEPT is a recording and measurement rule that relates to the determination of the aggregate amount of any item. In order to determine the aggregate amount of an asset or a liability, each individual asset or liability that comprises the aggregate must be determined separately. This is important because material items may reflect different economic circumstances. There must be a review of each material item to comply with the appropriate accounting standards.

GOODS RECEIVED NOTE is a document produced when goods are received into the company/factory. It will usually accompany goods to any inspection and is used to check against invoices before payment.

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