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adjustment account

noun

Definitions

  1. An account used in double-entry bookkeeping to represent the other side of adjustments…

    An account used in double-entry bookkeeping to represent the other side of adjustments that need to be made.

    • lt is also relevant to mention that there would be no effect on the profit of the Corporation even if the liability was written back through 'prior period adjustment account'.
    • […] your adjustment account should be an expense account for reducing inventory and an income account when increasing inventory.
    • The impact will be disclosed by establishment of an inventory adjustment account and a cost of goods sold adjustment account at the cost basis of the merchandise sold.

The neighborhood

Vish — recursive loop

No curated loop yet for adjustment account. Loops are being traced one word at a time while the ingestion pipeline matures.

sense glosses and etymology drawn from English Wiktionary · source · CC-BY-SA