STATUTORY ACCOUNT Definition

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STATUTORY ACCOUNT is an involuntary account, which is created by law rather than by business need. An example of a statutory account would be taxes.

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NET DEBT is: debt + short term loans less cash on hand.

RECHARGE, in accounting, normally involves an activity that provides a specific, ongoing and repetitive good or service to an entity or projects and recovers the cost of providing the good or service from the entity served on a fee basis. Operating costs are supported by recharges to the departments or specific activity receiving the service.

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