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 MCAs also demanded letters of proof for the conditional grants and opening balances among others.
The auditor also made stinging accusations that the company withheld information and were not given access to PwC's working papers to review the opening balances in the statement of accounts.
While these two accounting standards provide a one-time accounting treatment regarding the application of alternative valuation methods to establish opening balances, SFFAS 48 and SFFAS 50 do not replace the requirement for the Department to operate in a U.S.
Create and install the system, including data (opening balances) migration from existing information systems (programs);3.
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.
Opening balances to be paid in full in January are receivables of 4,000 [pounds sterling] and payables of 2,000 [pounds sterling].
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.
Minimum opening balances are $1,000 for certificates of deposit and $500 for money market accounts.
ALLIANCE & Leicester International Limited (ALIL) (01624 663566), A&L's offshore savings bank, is offering an Offshore 90 Plus Account, for minimum opening balances of pounds 10,000.
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.