Elimination - Accounting

Accounting

  • Elimination (Accounting), the act of recording amounts in a consolidation statement to remove the effects of inter-company transactions

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Famous quotes containing the word accounting:

    “At the crash of economic collapse of which the rumblings can already be heard, the sleeping soldiers of the proletariat will awake as at the fanfare of the Last Judgment and the corpses of the victims of the struggle will arise and demand an accounting from those who are loaded down with curses.”
    —Karl Liebknecht (1871–1919)

    “I, who am king of the matter I treat, and who owe an accounting for it to no one, do not for all that believe myself in all I write. I often hazard sallies of my mind which I mistrust.”
    —Michel de Montaigne (1533–1592)