Economics & Finance | Françoise Clementi

available balance

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Available balance is the amount of money currently present in a checking account or savings account. In other words, it refers to the amount of

average balance (bank account)

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Is the simple average balance of a financial account during some period of time. – Banks calculate the average monthly balance by adding together each

bad bank

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Bad bank is a term for a financial institution created to hold non-performing assets owned by a state guaranteed bank. Such institutions have been created

bad debt

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A debt that is not collectible and therefore worthless to the creditor. This occurs after all attempts are made to collect on the debt. (Read

austerity

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A budget in which a government announces that they will spend less money or do things that will make people spend less money, for example,

authorisation

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Official permission for something to happen, or the act of giving someone official permission to do something. (source: http://dictionary.cambridge.org/dictionary/british/authorization)

Automated Teller Machine

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Computerized telecommunications device that provides the clients of a financial institution with access to financial transactions in a public space without the need for a

auditing standards

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Rules prescribed for auditors by various national and international organizations such as the Auditing Practices Board (in the UK) and the Auditing Standards Board (in