suspense

Definition

In finance, an account where money sits in limbo, waiting for clarification before anyone is allowed to touch it. Basically financial purgatory.

Example Usage

The payment went into suspense account pending verification of the customer's identity, a delay that nobody was happy about.

Source: Accounting terminology, AICPA

Related Terms

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turnover ratio

A measure of how quickly a company converts various assets (inventory, receivables, etc.) into sales or cash. High turnover is generally good, unless you're turning over employees, which is just expensive.

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write-down

The accounting equivalent of admitting you overpaid for something—a reduction in the book value of an asset that's lost value faster than a new car leaving the dealership. Companies take write-downs when reality crashes their optimistic valuation party. It's how CFOs say 'oops' in the annual report without actually saying it.

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Bank of America

A humorous, scathing take on Bank of America's reputation for aggressive practices, hidden fees, and questionable business decisions. The complaint is that they'll find any excuse to charge you while operating in legal gray areas.

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solvent

In finance, the blessed state of actually being able to pay your debts when they come due—a concept that feels increasingly mythical. Your assets exceed your liabilities, you can sleep at night, and creditors aren't calling. In chemistry, it's the liquid that dissolves other substances, which is coincidentally what financial insolvency does to your peace of mind.

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General Ledger

The master accounting record containing all financial transactions, organized by account. It's the single source of truth for a company's finances, assuming someone entered everything correctly.

💰 Finance / Accounting

Intermediate

earnings quality

A subjective assessment of how much reported earnings reflect actual economic reality versus accounting gimmicks and one-time items. High-quality earnings come from sustainable operations; low-quality earnings come from financial engineering and hope.

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tffpd

too far from pay day...