TREASURER Definition

TREASURER is the officer appointed to administer or manage the financial assets and liabilities of a society, company, local authority, or other body.

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CONDUCIVE is tending to bring about or being partly responsible for, e.g. current working conditions may not be conducive to productivity.

IMPAIRMENT OF VALUE is the permanent decline in the value of an asset. The entry is to debit the loss account and credit the asset for the loss in utility. See also FRS 11.

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