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Deficit (3)
DEFICIT (3)

Definition: A financial accounting loss.
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* All eight elements should be in.


1. Correctly computed or rightly calculated.

2. Period covered will be specific and identifiable.

3. Source(s) and department(s) responsible will be known.

4. Loss won't be too large for organization to bear.

5. Reflected properly and fully in the books.

6. Loss will be a gain to some other party or parties.

7. An economy will suffer as a direct outcome of loss.

8. Some person(s) will be sanctioned for mismanagement.


NO CREATIVE ACCOUNTING.
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See perfect LOSS (2).

See perfect THIEVING.
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NOT AN OUTRIGHT THEFT.

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