Escrow Account
An escrow account is a temporary holding account managed by a third party to secure funds during a transaction. In accounting, escrow balances are recorded separately as restricted cash or liabilities. They are commonly used in acquisitions, property transactions, or legal settlements to ensure obligations are met before release.
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Equitable Charge
An equitable charge is a claim on an asset that does not transfer ownership but grants the lender rights over…
Extended Trial Balance
An extended trial balance is a worksheet that expands the standard trial balance to include adjustment, income statement, and balance…
Expense Allocation
Expense allocation is the process of distributing shared or indirect costs across departments, projects, or cost centres. It ensures expenses…
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