Contra Account
(redirected from Debits and credits)

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Contra Account

An account whose value offsets the value of an equivalent account. This applies whether the account is debited or credited. For example, two firms may have contra accounts in which each owes the other money. They might agree to offset the mutual debt and make a single payment to whichever is owed more. Perhaps the most common example of a contra account is an asset's depreciation, which is subtracted from its original price to calculate its book value. In this case, the depreciation and the original price are contra accounts with respect to each other.

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Allowance for Loan and Lease Losses Compte de contrepartie Cuenta de contrapartida			Some have asserted that with the advent of computerized information systems, double entry accounting as we know it is no longer relevant - the concept of debits and credits is archaic and is used by few computerized accounting systems. In defense of double entry accounting by Fisher, Steven A. / The National Public Accountant Review journal entries to verify that debits and credits have been correctly posted to the trial balance 4. Accounting errors by Schwartz, Marlyn A. / The National Public Accountant			Dear Money Death Benefit Death Cross Death play Death Put Death Spiral Death Spiral Convertible Death Tax Death Valley Curve Death-Backed Bonds Debasement debenture Debenture Bond Debenture Stock Debenture subordinado debit Debit Balance Debit Card Debit Spread Debit-Balance Theory Debitar Debiteur Debito Debito extraordinario Debito obbligazionario Debits and credits debt Debt Assignment Debt Bomb Debt Capacity debt capital Debt Ceiling Debt Consolidation debt coverage ratio Debt Displacement Debt Financing Debt instrument Debt leverage Debt Limit Debt Limitation Debt Management Debt Management Ratio Debt market Debt outstanding subject to limitation Debt Ratio debt relief Debt Restructuring Debt Retirement Debt Securities Debt Security debt service			Debit Valuation Adjustment debit with debit-balance theory Debit/Credit Debita sequuntur personam debitoris Debitar debited debited debited debited debited Debitel Debiteur debiting debiting debiting debiting debiting Debito Debito extraordinario Debito obbligazionario Debitor Debitor non praesumitur donare Débitos e Créditos Tributários Federais debits debits debits debits debits debits Debits and credits debittering Debitum et contractus non sunt nullius loci Debitum in praesenti Debituminization Debituminize debitus DEBK DEBKA-Net-Weekly DEBL Deblai déblé debleating Deblin Deblin Guitar Quartet Déblocage Actif des Amphithéâtres deblock Deblocking Deblocking Filter Deblocking filter (video) deblooming deboard Debogorii-Mokrievich, Vladimir Debogorii-Mokrievich, Vladimir Karpovich Debolskii, Nikolai

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Contra Account (redirected from Debits and credits)

Contra Account
(redirected from Debits and credits)