imported>Doug Williamson |
imported>Doug Williamson |
| Line 1: |
Line 1: |
| 1. ''Banking.''
| | Learning and development. |
| | |
| The balance in a bank account reflects all items that have been deposited into and paid out of the account.
| |
| | |
| | |
| :<span style="color:#4B0082">'''''Example 1: Overdrawn account becomes balance in our favour'''''</span>
| |
| | |
| :We have an overdraft of £50k at the start of April.
| |
| | |
| :The balance at the start of a period is known as an opening balance. In our example it is £50k.
| |
|
| |
| :So we owe £50k to the bank.
| |
| | |
| | |
| :We deposit £60k into the account during the month of April.
| |
| | |
| :This repays our overdraft, with some cash left over.
| |
| | |
| :At the end of April, our bank account now has a positive amount in it, of:
| |
| | |
| ::-50 + 60 = 10
| |
| | |
| :We have £10k cash in our bank account at the end of April.
| |
| | |
| | |
| :The amount at the end of a period is the closing balance. In our example the closing balance is £10k.
| |
| | |
| | |
| :<span style="color:#4B0082">'''''Example 2: Closing overdrawn balance in favour of the bank'''''</span>
| |
| | |
| :Our opening bank account balance for the month of May is £10k cash.
| |
| | |
| :So the opening cash is £10k.
| |
| | |
| | |
| :We pay £30k out of the account during May.
| |
| | |
| :Opening balance + deposits - withdrawals = Closing balance
| |
| | |
| ::+10 - 30 = -20
| |
| | |
| :This is an overdraft of £20k at the end of May.
| |
| | |
| | |
| :We have a closing overdraft balance of £20k.
| |
| | |
| | |
| | |
| 2. ''Accounting.''
| |
| | |
| The balance in a financial account reflects all items that have been posted to the account.
| |
| | |
| | |
| 3. ''International trade.''
| |
| | |
| The balance in international trade between two countries is the difference in the amounts exports and imports that each country makes with the other.
| |
| | |
| | |
| 4. ''Compromise - proportion - noun.''
| |
| | |
| A situation of compromise or proportionality, rather than of extremes.
| |
| | |
| | |
| 5. ''Verb - compromise - proportion.''
| |
| | |
| To bring about a situation of compromise or proportionality, rather than a situation of extremes.
| |
| | |
| | |
| 6. ''Accounting - bookkeeping.''
| |
| | |
| To check and validate accounting records for a given period.
| |
| | |
| This includes finding and correcting errors so far as possible, for example double counting and transposition errors.
| |
| | |
| This process is sometimes known as ''balancing the books.''
| |
| | |
| Other types of error are inherently more difficult to detect, for example omissions.
| |
|
| |
|
|
| |
|
| == See also == | | == See also == |
| * [[Available balance]] | | * [[CB&E]] |
| * [[Balance and transaction activity]] | | * [[Continuing professional education]] |
| * [[Balance netting]] | | * [[Continuing professional development]] |
| * [[Balance of payments]] | | * [[R&D]] |
| * [[Balance of trade]]
| |
| * [[Balance sheet]]
| |
| * [[Balance sheet date]]
| |
| * [[Balance sheet exposure]]
| |
| * [[Balance sheet insolvent]]
| |
| * [[Balance sheet ratio]]
| |
| * [[Balance sheet reduction policy]]
| |
| * [[Balanced]]
| |
| * [[Book]]
| |
| * [[Bookkeeping]]
| |
| * [[Cash]]
| |
| * [[Cash balance]]
| |
| * [[Cash flow]]
| |
| * [[Cleared balance]]
| |
| * [[Credit balance]]
| |
| * [[Debit balance]]
| |
| * [[Double counting]]
| |
| * [[Event after the balance sheet date]]
| |
| * [[Flow]]
| |
| * [[Idle balance]]
| |
| * [[Inflow]]
| |
| * [[Invisibles balance]]
| |
| * [[Ledger]]
| |
| * [[Ledger balance]]
| |
| * [[Off balance sheet]]
| |
| * [[Off-balance sheet finance]]
| |
| * [[Off balance sheet risk]]
| |
| * [[Outflow]]
| |
| * [[Post balance sheet event]]
| |
| * [[Reducing balance]]
| |
| * [[Target balance]]
| |
| * [[Transaction balance]]
| |
| * [[Transposition]]
| |
| * [[Trial balance]]
| |
| * [[Visibles balance]]
| |
| * [[Zero balance account]]
| |
|
| |
|
| [[Category:Accounting,_tax_and_regulation]] | | [[Category:Commercial_drive_and_organisation]] |
| | [[Category:Influencing]] |
| | [[Category:Self_management_and_accountability]] |
| | [[Category:Working_effectively_with_others]] |
| | [[Category:Planning_and_projects]] |
| [[Category:The_business_context]] | | [[Category:The_business_context]] |
