Over And Short


DEFINITION of 'Over And Short'

An accounting term denoting a discrepancy between reported and examined figures – for example, a discrepancy between sales records and audited statements. If the records show a higher number than the audit, then it is short.

BREAKING DOWN 'Over And Short'

Over and short is sometimes the result of number tampering; however, it is usually the result of simple human error. Making incorrect change or mishandling receipts can each cause this result.

  1. Financial Statements

    Records that outline the financial activities of a business, ...
  2. Audit

    1. An unbiased examination and evaluation of the financial statements ...
  3. Accounting Records

    All of the documentation and books involved in the preparation ...
  4. Sale

    1) In general, a transaction between two parties where the buyer ...
  5. Income Statement

    A financial statement that measures a company's financial performance ...
  6. Encumbrance

    A claim against a property by a party that is not the owner. ...
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