Accounting

Business / Real Estate / Accounting: The agent must be able to report the status of all funds received from or on behalf of the principal. Most state real estate license laws require a broker to give accurate copies of all documents to all parties affected by them and to keep copies on file for a specified period of time. Most license laws also require the broker to deposit immediately, or within 24 to 48 hours, all funds entrusted to the broker (such as earnest money deposits) in a special trust or escrow account. Commingling such monies with the brokers personal or general business funds is strictly illegal.

Management Accounting

Business / Accounting / Management Accounting: The area of accounting concerned with providing internal financial reports to assist management in making decisions. MORE

Cash-Basis Accounting

Business / Accounting / Cash-Basis Accounting: A system of accounting in which transactions are recorded and revenues and expenses are recognized only when cash is received or paid. MORE

Price Change Accounting

Business / Accounting / Price Change Accounting: Accounting for the value of assets, stock, raw materials etc. by their current market value instead of the more traditional Historic Cost . MORE

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