Rest in accounting: periodic pauses that fix balances to permit compound interest calculation and interest adjustment. The term rest denotes a periodic pause in accounting when the net balance between receipts and payments is determined so that interest adjustments can be ... Summary
Rest in accounting: periodic pauses that fix balances to permit compound interest calculation and interest adjustment.
The term rest denotes a periodic pause in accounting when the net balance between receipts and payments is determined so that interest adjustments can be applied; in banking practice, periodic rests permit compound interest by treating successive balances as starting points for fresh interest computation, a legitimate commercial method between banker and customer.
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