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Re: Accounting language to plain language - translation, please?
Subject:Re: Accounting language to plain language - translation, please? From:Milan Davidović <milan -dot- lists -at- gmail -dot- com> To:elizabeth -dot- sprague -at- maine -dot- rr -dot- com Date:Thu, 12 Jul 2012 10:59:48 -0400
On Wed, Jul 11, 2012 at 6:21 PM, <elizabeth -dot- sprague -at- maine -dot- rr -dot- com> wrote:
> "On <my non-profit's> balance sheet the loan loss reserve is a contra account to the Loans Outstanding asset that is equal to or greater than the aggregate of the loan loss reserve (âLLRâ) assigned to each loan in the portfolio. Increases to the contra-asset account is accompanied with a Loan Loss Expense (or Provision for Loan Losses) entry on the income statement."
Which role(s) in your org would use (and thus need to understand) this text?
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