SUPPLIERS Definition

Bookmark and Share

SUPPLIERS provide goods or services to an audited entity. Sometimes called vendors.

Learn new Accounting Terms

SUM-OF-THE-YEARS DIGITS (SYD) is the accelerated depreciation method in which a constant balance (cost minus salvage value) is multiplied by a declining depreciation rate.

NEGATIVE CONFIRMATION REQUEST, in accounting, in the negative form of accounts receivable confirmation asks the client's customer to respond only if the customer disagrees with the balance determined by the client. The positive form asks the customer to respond whether the customer agrees or disagrees with the client's receivable balance. The negative form is used when controls over receivables are strong and accounts receivable consists of many accounts with small balances. The positive form is used when controls are weak or there are fewer, but larger, accounts. See Positive Confirmation.

Suggest a Term

Enter Search Term

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