Double entry and MIF: Difference between pages

Revision as of 14:35, 17 May 2019

Multilateral Interchange Fee.

A fee on payment card transactions, based on the value of the transaction.

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+Multilateral Interchange Fee.
-''Accounting''
+A fee on payment card transactions, based on the value of the transaction.
-The dual aspect concept that every accounting transaction has two sides.  (Therefore the balance sheet should always remain in balance.)
-For example, if services are sold by a company for cash, the company's Sales figure increases AND its Cash increases.
-Taking another example, if a company borrows money, its Cash increases AND its Liabilities (to repay the money in the future) also increase.
+== See also ==
+* [[Ad valorem]]
-This is sometimes known as 'double entry bookkeeping'.
+* [[Credit]]
+* [[Credit card]]
+* [[Debit card]]
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+* [[PSR]]
-An error resulting from the inappropriate duplication or inappropriate repetition of an entry or part of an entry, in a financial information system or elsewhere.
-== See also ==
+===Other links===
-* [[Balance sheet]]
-* [[Book entry]]
-* [[Book keeping]]
-* [[Credit]]
-* [[Debit]]
-* [[Double counting]]
-* [[Journal entry]]
-* [[Off balance sheet finance]]
-[[Category:Accounting,_tax_and_regulation]]
+[https://www.treasurers.org/ACTmedia/ACT_response_PSR_CFI%2015_1_Card_Payment_Systems_0.pdf ACT's response to Payment Systems Regulator about card payment systems, July 2015]
-[[Category:Compliance_and_audit]]