Offset Account
Barron's Accounting Dictionary:
Top
Offset Account
One that reduces the gross amount of another account to derive a net balance. Accumulated depreciation, which is a contra account to fixed assets to obtain book value, is an example of an offset account. Discount on note payable, which is a reduction of notes payable to derive the carrying value, is another example.
| Office Ofmanagementand Budget (OMB), Off-Balance Sheet Liability, Off-Balance Sheet Financing | |
| Offsetting Error, On Account, One-Year Treasury Constant Maturity Index |
Post a question - any question - to the WikiAnswers community:
Copyrights:
Barron's Accounting Dictionary
Dictionary of Accounting Terms. Copyright © 2010 by Barron's Educational Series, Inc. All rights reserved.
Read more