balancing item

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Balancing Item

In accounting, an entry making an adjustment in cases in which two figures do not agree. For example, if two estimates of the value of an asset arrive at two different amounts, an accountant may enter a balancing item for the difference between the two to determine which calculation is correct.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

balancing item

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
Yet the velvet sofa from the French Bedroom Company has no such balancing items - it has a voluptuous shape and is paired with soft furry rugs and throws, and even the dog is cute, if a little challenged in the leg department.
Net domestic assets in the banking system rose by EGP 38.9bn (2.8%) due to the EGP 25.8bn rise in domestic credit and the EGP 13.1bn retreat in the negative balance of net balancing items.
He pointed out that there are several considerations that have been introduced in the preparation of the draft budget, including the method of balancing items and observing the rules of preparation of the budget estimates of the Ministry of Finance in 2012, in addition to the objectives of the general policy of the State to control and rationalize public spending, provided in the future vision for Oman's economy.
It goes without saying that there is little chance of seeing the Connecting Europe Facility come out unscathed from the negotiations: it is one of the balancing items of choice, especially because it can be substantially cut before suffering by comparison with the current programming period.
The report includes a number of tables, flow charts, illustrative calculations and technical notes, including an outline of the Chart of Accounts that presents classifications of industrial sectors, transactions, assets, and balancing items as well as a set of accounts that set forth the structural relationships.
Another factor included the noticeable increase of negative balances for net balancing items by EGP 18.5bn, or 13.6%.
In the SNA there is an Opening Balance Sheet - which for all practical purposes is the Closing Balance Sheet from the previous accounting period; a Balance Sheet of Changes - which recapitulate the accumulation accounts via their balancing items (i.e., changes in net worth); and a Closing Balance Sheet, which is derived from these two accounts.
Net worth, which is the balancing item for the Balance Sheet, is defined as the value of all the nonfinancial and financial assets owned by an institutional unit or sector less the value of all its outstanding liabilities, Although this definition places emphasis on assets and liabilities and the Changes in Balance Sheet Account draws further attention to the accumulation accounts by recapitulating the "changes in net worth due to ..." balancing items, most changes in the accumulation accounts only rearrange assets and liabilities if current account activity (i.e., saving) is excluded.
Transactions accounts balance resources and uses without the use of balancing items. The Goods and Services Account is a transactions account that shows, for the economy as a whole (or for groups of products), the total resources and total uses of goods and services.
This is illustrated in Chart 3 which shows the net financial surplus and the balancing item for industrial and commerical companies.
The second motivation for adjusting investment was that such an adjustment was consistent with errors elsewhere in the accounts at the time of the forecast, most notably the balancing item allocated to industrial and commercial companies (ICCS) which averaged nearly 3 pounds billion per quarter over this period.
The implied upward adjustment of 5.5 per cent to the published data is consistent with the behaviour of the personal sector balancing item which averaged some 25-1 billion per quarter over the adjustment period.

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