Define Current Year
Current Year (CY): It is a term utilized in budgeting and accounting to designate the operations of the current fiscal year in contrast to past or future periods.
Describe the benefits of "paying late" (but not too late) and how do companies try to do this? Since money has time value, the later cash is paid, but not too late, the better. Companies employ remote disbursement banks to facilitate holding at
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Pooled Money Investment Account (PMIA) It is a State Treasurer's Office accountability account maintains by State Controller's Office to account for short-term investments procured by the State Treasurer's Office as designated by the Pooled Money Inve
Describe how to measure the firm risk of any capital budgeting project. The firm risk of a capital budgeting project measures the effect of adding a new project to the present projects of the firm.
Fund Balance: For accounting aims, the excess of a fund’s assets over its liabilities. And for budgeting aims, the surplus of a fund’s resources over its expenses.
What influence has mergers and acquisitions had on a customer's access to branches?A branch closing that has resulted from a merger require not necessarily mean a lost relationship. The cause a branch closes is usually the presence of a nearby b
Describe Treasury bill? How risky is it?Treasury bills are short term debt instruments issued through the U.S. Treasury which are sold at a discount and pay face value at maturity. They are very close to risk-free as they are backed throug
Compare and contrast a prescribed benefit and contribution pension plan.In a prescribed benefit plan, retirement benefits are determined by a formula that typically considers the worker's age, salary, and years of service. The employee and
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