PREVENTATIVE CONTROL Definition

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PREVENTATIVE CONTROL is a control designed to avoid an unintended event.

Learn new Accounting Terms

BASIC ACCOUNTING normally includes the areas of Debits and Credits; Accounts; Assets, Liabilities, Equity, Revenue and Expenses; and, an accounting system that offers a method for checking, balancing, and reconciling all accounting related transactions in order to produce accurate pictures of the entities financial health. Profit and Loss Reports, Balance Sheets, and Cash Flow Statements are the end result of compiling all the transactions into meaningful, usable information for individuals and business owners alike.

LIVRE is a currency of Lebanon

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