opening balance

(redirected from Opening Balances)

Opening Balance

The amount of funds in an account at the beginning of a period, especially a month or year. For example, if one has a bank account with a balance of $1236 at the end of August, this becomes the opening balance for the beginning of September.

opening balance

The balance in an account at the beginning of a period.
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The application of using the alternative valuation methods to establish opening balances for these types of assets may be used only in the first reporting period in which the agency makes an unreserved assertion that its financial statements, or one or more line items, are presented fairly in accordance with the applicable accounting standard.
Open Competition: Providing services for software products on a platform of "1C: Enterprise" on the "Finalize typical configuration, transfer and filling of reference information (NSI), the transfer opening balances, the introduction of information systems based on software" 1C: Manufacturing Enterprise Management "
The banks would also make necessary arrangements for deduction of Zakat on opening balances of deposits of 1st Ramzan.
This Statement on Auditing Standards (SAS) addresses the auditor's responsibilities relating to opening balances in an initial audit engagement, including a reaudit engagement.
If HM Revenue and Customs now chose to examine the bona fides of all original cash deposits in internet betting accounts, and were to make the exchange operators responsible for the tax on any dubious opening balances, then the majority of exchange sites would probably close overnight.
ALLIANCE & Leicester International Limited (ALIL),A&L's offshore savings bank, offers an Offshore 90 Plus Account, for minimum opening balances of pounds 10,000.
The Campaign for Real Ale says that while the number of new pubs opening balances out those closing, most new outlets are in towns and cities.
It bears on the successor's ability to express an opinion on the financial statements since opening balances will impact the current audit.
The minimum opening balances were raised last July to deter speculators hoping for a windfall if the society became a bank.
The spokeswoman added: "A lot of people are unable to have accounts because of these high opening balances.
Although somewhat shaky in her opening balances, both she and Noya gained confidence as the second act progressed.
At the conversion date, BP established opening balances in the cash balance plan that were supposed to be the lump sum equivalent value of the benefits that were to be paid from the traditional pension plan during participants' retirement.