Disposal

Posted Dec 10th, 2021 in Jargon

Disposal

 If you're not an accountant, this word is usually preceded by the word "garbage".  So, why do accountants get excited when they hear that word?  Because in the alternate universe of accounting, it means SALE!  That is, PROCEEDS/CASH!!  This evokes quite different emotions, doesn't it?  Now, yes, a disposal could include a gain (yay!) or a loss (yuck!), but that means a disposal requires much more scrutiny than something you throw in the trash.  So, what's the accounting term for "garbage"?  "Miscellaneous"

Tempted to throw all of your receipts in the wastebasket? DON'T DO IT! Contact one of our members instead:

Find a Professional

0 comments

Post a Comment

Accounting professional benefits from ATAP membership

Become a Member

Experience your full potential by becoming a member, and take advantage of numerous educational and professional benefits.

Join Today

1 (800) 429-2802