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Reserve Account |
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Reserve account A separate amount of cash or letter of credit to service a payment requirement such as debt service or maintenance. Reserve Account In the Generally Accepted Account Principles, extra funds from sales or another source set aside in order to pay off bad debt if and when it arises. On financial statements, it is important to note that a reserve account exists for fiscal conservatism, and not because one expects a large amount of bad debt to accumulate. A reserve account is also called a cushion. See also: Savings account. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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