Suspense accounts are used when your trial balance is out of balance or when you have an unidentified transaction. The suspense account is a general ledger account ...

"'Freeport' is ... a substantially important decision concerning two of the safe harbor provisions in ... the Texas Natural Resources Code," writes Demetri J. Economou of Kane Russell Coleman Logan.

If a business fails to keep accurate records of transactions, chaos is the likely result. You could be faced with angry customers whose payments haven't been credited and vendors demanding payment for ...