Home > Terms > English, UK (UE) > Lapping

Lapping

A scheme to cover an embezzlement by using payments made by one customer to reduce the receivables balance of another customer.

This is auto-generated content. You can help to improve it.
0
Improve it
  • Part of Speech: noun
  • Synonym(s):
  • Blossary:
  • Industry/Domain: Accounting
  • Category: Auditing
  • Company: AIS
  • Product:
  • Acronym-Abbreviation:
More
Collect to Blossary

Other Languages:

More

Member comments

You have to log in to post to discussions.

Related terms

lapping
Internet; Internet communication

The process of smoothing, finishing or achieving an extremely close tolerance on the heat-absorbing side of the heatsink, with the idea that heat will transfer more efficiently ...

lapped-in
Industrial valves; Control valves

A term that describes a procedure for reducing the leakage rate on metal-to-metal seated valves and regulators. The plug and seat are lapped together with the aid of an abrasive ...

lapping
Machine tools; Bearings

An abrading process for refining the surface finish and the geometrical accuracy of a surface.

lapping
Accounting; Auditing

A scheme to cover an embezzlement by using payments made by one customer to reduce the receivables balance of another customer.

lap
Printing & publishing; Publishing

Edge of a signature that a machine grips during binding operations. Compare gripper edge, guide edge.

share a term with millions
Accounting; Auditing

Share a term with millions of users around the world and increase your online visibility.Share a term with millions of users around the world and increase your online ...

define1
Accounting; Auditing

Share a term with millions of users around the world and increase your online visibility.Share a term with millions of users around the world and increase your online ...

segregation of duties
Accounting; Auditing

means assigning different people the responsibilities of authorizing transactions, recording transactions, and maintaining custody of assets. Segregation of duties reduces the ...

revenue cycle
Accounting; Auditing

The portion of a company that fills customer orders, accounts for receivables, and collects those receivables.

self-checking digit
Accounting; Auditing

An extra digit is added to a number. The extra digit is computed from the other digits in the number. The computer program can then check input by recomputing and comparing the ...

review
Accounting; Auditing

To examine again. The overall review of audit documentation is completed after field work. A peer review is a practice monitoring program in which audit documentation of one CPA ...

Terms in the News

Featured Terms

Harry8L
  • 0

    Terms

  • 0

    Blossaries

  • 1

    Followers

Industry/Domain: History Category: Ancient Greece

Laconia

Mountainous region in the central-southern Peloponnese and the home territory of Sparta, which drew on the fertility of the Eurotas valley between the ...

Contributor

Featured blossaries

Journalistic Terms and Expressions

Category: Education   1 12 Terms

Christmas Facts

Category: Culture   1 4 Terms

Browers Terms By Category

TERMS

SOCIAL

EXTRAS

SOLUTIONS