accounting insolvency
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Accounting Insolvency — A situation where the value of a company s liabilities exceeds its assets. Accounting insolvency looks only at the firm s balance sheet, deeming a company insolvent on the books when its net worth appears negative. Accounting insolvency is a… … Investment dictionary
Accounting insolvency — Total liabilities exceed total assets. A firm with a negative net worth is insolvent on the books. The New York Times Financial Glossary … Financial and business terms
insolvency practitioner — inˈsolvency pracˌtitioner noun [countable] ACCOUNTING LAW in Britain, a person or organization that can by law act for a company that is declaring itself to be insolvent (= unable to pay its debts): • The company consulted an insolvency… … Financial and business terms
Accounting scandals — Accounting scandals, or corporate accounting scandals, are political and business scandals which arise with the disclosure of misdeeds by trusted executives of large public corporations. Such misdeeds typically involve complex methods for… … Wikipedia
Accounting period — An accounting period is a period with reference to which United Kingdom corporation tax is charged. [Section 12 of the Income and Corporation Taxes Act 1988] It helps dictate when tax is paid on income and gains. An accounting period begins… … Wikipedia
insolvency — The lack of adequate capital. The condition that exists when the amount of losses exceeds the amount of capital. See solvency and solvency risk. American Banker Glossary This occurs when individuals or businesses do not have enough assets to… … Financial and business terms
Insolvency Service — The Insolvency Service is an executive agency of the United Kingdom s Department for Business, Enterprise and Regulatory Reform (BERR) which:* administers and investigates the affairs of bankrupts, of companies and partnerships wound up by the… … Wikipedia
Goodwill (accounting) — Goodwill is an accounting term used to reflect the portion of the book value of a business entity not directly attributable to its assets and liabilities; it normally arises only in case of an acquisition. It reflects the ability of the entity to … Wikipedia
Certified Insolvency And Reorganization Accountant - CIRA — A professional certification available to forensic accountants. To become certified, candidates must pass a rigorous board exam. The CIRA designation provides both additional training and professional recognition for certficants. CIRA candidates… … Investment dictionary
financial accounting — The branch of accounting concerned with classifying, measuring, and recording the transactions of a business. At the end of a period, usually a year but sometimes less, a profit and loss account and a balance sheet are prepared to show the… … Accounting dictionary
