What is sweep account, Accounting Basics

Assignment Help:

A sweep account is actually a grouping of two or more accounts at a bank. It is useful in managing a steady cash flow among a cash account where scheduled payments are made from and an investment account where the cash is able to acquire a higher return.

 


Related Discussions:- What is sweep account

Determine about the revenue section, Determine about the revenue section ...

Determine about the revenue section Revenue section provides a figure for net sales, which is balance of the Sales account, less the balances of contra sales accounts. (Sales -

Corporate accounting, need to get assignment done, its corporate accounting...

need to get assignment done, its corporate accounting.

Illustrate the financial accounting process, Q. Illustrate the Financial ac...

Q. Illustrate the Financial accounting process? In this section we describe the accounting equation as the framework for the entire accounting process. Then we demonstrate you

What do you mean by cross-indexing, Q. What do you mean by Cross-indexing? ...

Q. What do you mean by Cross-indexing? Usually, accountants should check and trace the origin of their transactions so they provide cross indexing. Cross-indexing is the insert

Illustrate lcm method, Q. Illustrate lower-of-cost-or-market method? Pr...

Q. Illustrate lower-of-cost-or-market method? Procter & Gamble markets a broad range of paper, cleaning, beauty care, health care, food, laundry and beverage products around th

Gain and loss recognition principle, Q. Gain and loss recognition principle...

Q. Gain and loss recognition principle? The gain and loss recognition principle states that we record gains merely when realized but losses when they first become evident. Ther

Exchange-price or cost principle, Q. Explain about Exchange-price or cost p...

Q. Explain about Exchange-price or cost principle? When resources are transferred between two parties such like buying merchandise on account the accountant must follow the exc

Assets, is money deposited to the municipality for electricity current asse...

is money deposited to the municipality for electricity current assets

Inventory, 20 hypothetical inventory transactions both sale and purchase

20 hypothetical inventory transactions both sale and purchase

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd