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When Using a Poisson Distribution to Approximate a Binomial Distribution

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When using a Poisson distribution to approximate a binomial distribution, the standard deviation of the Poisson distribution is np where n is the sample size and p is the probability of an event of interest.


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Year-End

The end of a fiscal year or calendar year, a significant reporting and assessment time for businesses and individuals for accounting and tax purposes.

Dishonored Note

A promissory note that has not been paid by the maker at maturity, resulting in a default.

Collection Efforts

Activities undertaken by a business or organization to pursue and receive payments owed by customers or clients.

Reversing Entries

Journal entries usually made at the beginning of an accounting period to reverse or cancel out adjusting entries from the end of the previous period.

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