Bookmark and Share

SWEEPING ACCOUNTS is when an entity zeros out a monetary asset account (takes the money) that does not meet an established mandatory monetary hurdle at which they will make a payment to the holder of that account, e.g., if a salesman does not make a certain amount of sales required over a time period, his company will not pay him commission on the sales that were made during that period and sweep his account balance to zero at the end of the time period.

Learn new Accounting Terms

INVESTMENT TURNOVER is a profitability measure used to calculate the number of times per year an investment or assets revolve.

DIT is Depreciation, Interest and Taxes.

Suggest a Term

Enter Search Term

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