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Procedures and controls in an organization that prevent fraud and monitor transactions, which also provides assurance that accounts and records are most likely accurate and reliable. … [Read more...] about ACCOUNTING CONTROLS

The act of growing to a thing; usually applied to the gradual and imperceptible, accumulation of land by natural causes, as out of the sea or a river. Accretion of land is of two kinds: By alluvion, i.e., by the washing up of sand or soil, so as to form firm ground; or by dereliction, as when the sea shrinks below the usual water mark. The increase of real estate by the … [Read more...] about ACCRETION

The party that is the owner of the account, one who controls or is authorized to use an account. … [Read more...] about ACCOUNT HOLDER

An error or omission as a result of an accountant's negligence, such as not following Generally Accepted Accounting Principles (GAAP). An error usually does not include intentional error such as fraud. … [Read more...] about ACCOUNTING ERROR

To encroach; to exercise power without due authority. To attempt to exercise royal power. 4 Bl. Oomm. 76. A knight who forcibly assaulted and detained one of the king's subjects till he paid him a sum of money was held to have committed treason, on the ground of accroachment. 1 Hale, P. C. 80. … [Read more...] about ACCROACH