Related Words

Memorandum Accounts: A name for the accounts held in a subsidiary ledger. Eg. the accounts in a sales ledger .

Net Realizable Value Of Accounts Receivable: The net amount that would be received if all receivables considered collectible were collected: equal to total accounts receivable less the allowance for uncollectible accounts: also called . . . View Full Definition

Nominal Accounts: Accounts that are closed to a zero balance at the end of each accounting period: temporary accounts generally appearing on the income statement.

National Accounts: Large group accounts that have employees in more than one geographic area that are covered through a single national contract for health coverage. Contrast with large local groups.

Memorandum Of Agreement (MOA): An agreement between federal agencies, or divisions/units within an agency or department, or between federal and state agencies, which delineate tasks, jurisdiction, standard operating proce . . . View Full Definition

Medical Savings Accounts (MSA): Savings accounts designated for out-of-pocket medical expenses. In an MSA, employers and individuals are allowed to contribute to a savings account on a pre-tax basis and carry over the unus . . . View Full Definition

Offering Memorandum: A document that outlines the terms of securities to be offered in a private placement.

Personal Accounts: These are the accounts of a business's customers and suppliers. They are usually held in the Sales and Purchase Ledgers.

Savings Accounts: Accounts at financial institutions that allow regular deposits and withdrawals. The minimum required deposit, fees charged, and interest rate paid varies among providers.

Uncollectible Accounts Expense: An account that represents the portion of the current period's receivables that are estimated to become uncollectible.