Similar to "tech debt", accounting debt is incurred when accounting departments take shortcuts either at the start of a companies life or during a busy period. These shortcuts then have to be "paid off" (i.e. corrected) by that same department or a third party at a later date. This phrase was coined by accountant Matthew R Williams, ACA in New York City on 23-Jun-22.
We could simply transfer the money now and sort out the loan agreements at a later date. We have to be conscious though that this would be adding to the departments existing accounting debt.
by Rob717 June 23, 2022
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Yeah, he's such a dumbshit debits he fell down the stairs yesterday watching pokemon
Yeah, he's such a dumbshit debits he fell down the stairs yesterday watching pokemon
by jamesk12342132 October 4, 2022
Get the Dumbshit Debits mug.Flotsome discovered miles out in the ocean , initially believed to be small parts of wreckage from the disappeared wreckage of the missing airliner - but actually found to be Rolf Harriss laptop
They’ve found some junk gluating in the pacific and thought it was bits of that missing plane , but it’s actually Aussie pervert Rolf Harris’s laptop
Malaysian Debris my arse
Malaysian Debris my arse
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