An estimated cost recorded for something consumed but not yet invoiced.
Recording revenue and costs when they are earned or incurred, rather than when cash moves.
A named person formally attesting that an account balance is correct as at a date.
A transaction the matching rules could not clear, requiring a human to investigate.
Finalising the accounting records for a period so results can be reported.
Examining how account balances moved between periods and explaining significant changes.
The currency an entity primarily operates and reports in.
The company's own internal record of what it believes happened to its money.
Stock received where the supplier's invoice has not yet arrived.
Removing transactions between group companies so the consolidated accounts do not double-count them.
The record that changes the ledger, with debits equalling credits.
An instruction preventing deletion of records that would otherwise reach their retention expiry.
The value below which a difference is not worth investigating.
An account a bank holds at another bank, usually in another currency.
Closing a period so no further entries can be posted to it.
Comparing your own records against independent evidence and explaining every difference.
One component of the difference between a ledger balance and its supporting balance, with an explanation.
The whole finance process from recording a transaction through to publishing financial statements.
An entry that cancels a prior one, typically releasing an accrual at the start of the next period.
Proving a balance by showing opening balance plus additions less reductions equals the closing balance.
US legislation requiring listed companies to document, test and attest to their internal controls over financial reporting.
Requiring that the person who prepares something is not the person who approves it.
A statement from a payment processor itemising gross sales, fees deducted and the net amount remitted.
Proving that an account balance is correct with supporting evidence.
A difference that exists only because one side has recorded something the other has not processed yet.
How much two records may differ and still count as matching.
Comparing individual transactions across two or more independent records to confirm each has a counterpart.
The price one group company charges another for goods or services.