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When you define a procedure,the parameters you list in the interface are the formal parameters.
Financial Statement
A financial statement is a formal record of the financial activities and position of a business, person, or other entity, detailing earnings, expenditures, assets, liabilities, and equity at a specific point in time.
Permanent/Temporary
Classification of accounts where permanent accounts represent balance sheet items carried over multiple periods, and temporary accounts are income statement items closed at the end of each period.
Normal Balance
The side of an account (debit or credit) on which increases to the account are recorded, determined by the account type.
Financial Statement
A formal record of the financial activities and position of a business, person, or other entity over a period of time.
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