FABM Flashcards
include currency or cashitems onhnad, such as items waiting deposit and cash in working funds as well as peso or foreign currency deposits in the bank which are unrestricted and immediately available for use in the current operaton
CASH
component of cash item
Cash on hand
Cash in bank
Cash in working funds
Undeposited cash collection
Cash on hand
Unrestricted as to withdrawal
Cash in bank
Change fund, divedend fund, payroll fund
Cash in working funds
Is basic type of account maintained in the bank that the account owner to deposit money and entrust the money in the bank to keep it safe. Bank allows withdrawals of the funds and pays interest
SAVING ACCOUNT
allow writing of checks to use the money deposited, it sometimes has a higher maintaining balance than saving account
CHECKING ACCOUT
An interest bearing bank account that has pre set date of maturity. Money must remain in the account for the fix term in order to earn the stated interest rate
TIME DEPOSIT
An instrument that is written, dated and signed by the issuer that commands a bank to pay a specific amount of money to the holder is the check
Check
Person writing the check
Payor
Person holding the check for encashment
PAYEE
Parts of check
Account number
Account name
Name of payee
Check number
Check date
Numerical amount
A summary of all financial transaction an account holder or entity had in the bank during specific period. A typical bank statement will show you all deposit and withdrawals in the account
BANK STATEMENT
Prepaid by an entity to reconcile the cash in bank account balance in the entity books versus the balance as reported by the bank
BANK RECONCILATION STATEMENT
Cash that has been received by an entity and was recorded in the cash in bank account balance as deposit, this deposit has been sent to the bank is not yet processed and posted by the bank, not reflecting in the bank statemant
DEPOSIT IN TRANSIT
