When two parties sign a contract that releases the other in return for some compensation.

An agreement in Europe that is given to goods shipped by motor vehicle. These goods are dangerous and must be handled carefully. Similar to the DOT hazard code in the US.

A representative who manages a client, large customer, or acts as an agent broker. AKA registered representative.

The statement on an account over a period of time.

When a bank asks for the applicants account history for credit approval or loan renewal.

A numeric or alphabetic code that identifies an account holder and the account records. AKA account code.

The summary of transactions on an account with a customer over the last period of time. AKA statement of account and bank statement.

A code an account is given to show its general purpose. It can be savings, checking, or brokerage for example.

When a trustee must report all asstes entrusted to them. It is done even if the rules are followed to ensure honesty.

When one party must report its activities and take responsibility for them. It is done to keep them honest and responsible.

This party is assigned responsibilities and is in charge of the account in question.

An official document with value that must be accounted for.

A party trained in bookkeeping and finance practices. They make annual reports, statements, make decisions, plan, and advise on tax and investments. Refer to accounting.

Compensation given to high ranking officials determined by their contributions.

The ways a company control their accounting practices. The goal is to follow rules and procedures, protect the company, and provide timely reports.

The value of resources that are used to complete an activity. Refer to economic cost.

A statement that must be true no matter what changes.

Basic assuptions that determine transaction methods.

All the records about a company and its assets. They are used in audits and financial reviews.

A change in rules that go beyone standard practices. It keeps the economies on a national level. It is used to help globalize standard practices.