Accounting Definitions K - There are hundreds of accounting definitions, financial meanings and bookkeeping terms here in my accounting terms glossary.
Use this as an accounting resource to help improve your knowledge of bookkeeping terms starting with the Letter K.
Accounting Definitions K:
Slang Ruined, done for, finished.
The twenty-fourth part by weight of gold in an article, thus, 18-karat gold means an article 18/24 or 3/4 gold by weight, distinguished from carat.
Having or exhibiting sharpness or penetration, shrewd. Acute, exceptionally intelligent. Characterized by intensity, force, or zest.
Keep track of:
To maintain in good condition or repair. To continue, go on with. To maintain and renew knowledge or information.
One thousand times a given unit, used chiefly in the metric system of weights and measures.
This activity is sometimes used when a company is facing an overdrawn checking account. Assume that a company has a checking account at CA Bank that is about to overdraw.
To prevent the CA Bank checking account from overdrawing, the company deposits one of its checks drawn on its OR Bank. However, its OR Bank checking account does not have sufficient funds to cover the check that the business owner deposited in the CA Bank.
To avoid its OR Bank checking account from overdrawing, the company deposits into its OR Bank checking account a check drawn on its CA Bank checking account.
This pattern will require the writing and depositing of many checks until the company gets some money or until the scheme is detected.
Banks have reduced the opportunity for kiting by clearing checks more quickly and by not paying checks until deposited checks have been in an account for several days.
A result or product of knowing, information or understanding acquired through experience, practical ability or skill.
Having knowledge, knowing shrewd
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