Accounting Tools

MARCH 2, 2024

Under this theory, the owners are not responsible for the liabilities of the organization, so their assets should not be commingled with it. Related AccountingTools Courses Accountants' Guidebook Bookkeeping Guidebook Related Articles Accounting Principles Economic Entity Principle The Key Accounting Assumptions

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Accounting Tools

AUGUST 27, 2023

Here are several more specific ways in which cash can be laundered: Commingling of Funds A criminal purchases a business that commonly handles large amounts of cash, such as a car wash, laundromat, or used car lot, and pushes cash into it, typically by recording more sales than are actually occurring.

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Accounting Tools

MAY 15, 2023

To avoid the commingling of information, it is customary to have a separate capital account for each partner. Related Articles Articles of Partnership Forming a Partnership Guaranteed Payments to Partners Partnership Advantages and Disadvantages Partnership Agreement Types of Business Entities

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Accounting Tools

SEPTEMBER 6, 2023

The economic entity principle is a particular concern when businesses are just being started, for that is when the owners are most likely to commingle their funds with those of the business.

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Accounting Tools

SEPTEMBER 4, 2023

Advantages of Notional Pooling The notional pooling concept is particularly useful when individual accounts are owned by subsidiaries that want control over their cash, and do not want to see it commingled in a central concentration account. Another advantage of notional pooling is that a few banks offer pooling across currencies.

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Cloud Accounting Podcast

AUGUST 3, 2020

David Leary: [00:10:18] There was an article about more fraud in the in the disaster loan program, not PPP program. The thing to take away from this article for me - it was in The Washington Post - was they're indicating there's widespread fraud. The article also talks about how they were overwhelmed. continue your article.

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