Copy of `NYSSPCA - Accounting title`
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NYSSPCA - Accounting title
Category: Economy and Finance > Accountaning Terminology
Date & country: 23/08/2008, USA
Words: 510
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Working Capital- Excess of CURRENT ASSETS over CURRENT LIABILITIES.
Working Papers- (1) Records kept by the AUDITOR of the procedures applied, the tests performed, the information obtained, and the pertinent conclusions reached in the course of the AUDIT. (2) Any records developed by a CERTIFIED PUBLIC ACCOUNTANT (CPA) during an audit.
Work in Progress- INVENTORY account consisting of partially completed goods awaiting completion and transfer to finished inventory.
Wrap-Around Mortgage- Second MORTGAGE which conveniently expands the total amount of borrowing by the mortgagor without disturbing the original mortgage.
Yield- Return on an INVESTMENT an investor receives from DIVIDENDS or INTEREST expressed as a percentage of the cost of the SECURITY.
Yield to Maturity- Rate of return on a SECURITY to its maturity, giving effect to the stated interest rate, accrual of discount, or AMORTIZATION of PREMIUM.
Zero-Coupon BondBOND on which the holder receives only one payment at maturity which includes both PRINCIPAL and INTEREST from issuance to maturity.
A Misstatement is InconsequentialIf a reasonable person would conclude after considering the possibility of further undetected misstatements that the misstatement either individually or when aggregated with other misstatements would clearly be immaterial to the financial statements. If a reasonable person could not reach such a conclusion regarding a particular misstatement, that ...
R&D- See RESEARCH AND DEVELOPMENT.
S Corporation- An S Corporation is a corporation which, under the Internal Revenue Code, is generally not subject to federal income taxes. Instead, taxable income of the corporation is passed through to its stockholders in a manner similar to that of a partnership.
