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You are arguing about accounting jargon. The card has to be tracked, the entries that track it fall under the label "liability".
by maxerickson 2mo ago
You are arguing about accounting jargon. The card has to be tracked, the entries that track it fall under the label "liability".
- OutOfHere 2mo agoThe issue is that the author is using it as an excuse to justify stealing unspent customer funds after one year. It's not an appropriate excuse.
- xtiansimon 2mo ago> “…stealing unspent customer funds after one year.” There’s our common ground! The common sense question: why is 1 year legal when there is a federal law saying it’s must be 5 years?
- OutOfHere 2mo agoThe funds must ideally last forever for the life of the firm. I wouldn't even buy a gift card if it going to expire in five years. Amazon is another prominent example. It gift card in the US never expires and has no fee. It's a good place for stashing funds. Do you think Amazon doesn't have accountants? For logical reasons I have noted before, there is no unmanageable risk to any sizable firm with it.