MATERIAL WEAKNESS Definition

Bookmark and Share

MATERIAL WEAKNESS is a condition that could potentially result in the material misstatement of the financial statements.

Learn new Accounting Terms

BOOK INCOME is the income reported within the financial statements of the taxable entity, i.e., taxable income normally is not aligned with the financial income (book income) reported within financial statements

PITI is an acronym for Principal, Interest, Taxes and Insurance when dealing with property mortgages.

Suggest a Term

Enter Search Term

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