forensic accounting

(business) A form of creative accounting practiced by the entertainment industry that reduces reported profit in order to reduce owed royalties and taxes.

plural of forensic accountant

Specialist accounting for the purpose of engaging in a legal dispute over insurance, fraud, etc.

One who carries out forensic accounting.

plural of accountant's lien

(law) The right of an accountant to retain a client's papers until the accountant's fees have been paid.

An account on a merchant's ledger, one side of which shows the original capital, or stock, and the additions thereto by accumulation or contribution, the other side showing the amounts withdrawn.

plural of smurf account

(finance) A regularly updated record of transactions between two parties showing what is owed or due to each party or a statement summarising the position