Frequently asked questions
1. Does the USA work in different currencies?
Yes. The USA does not just work in dollars. It works in almost all currencies, though we are currently re-programming the website to allow recording of Zimbabwean differences.
2. Does the USA apply worldwide?
More than that, it applies to the universe! Not satisfied with sorting out the Middle East conflict, the USA seeks to reconcile the whole universe. We’ve all encountered accounting practices which we think are either “out of this world” or perhaps, more accurately, “unearthly” – the USA is set up to deal with such differences.
3. How much does it cost to use the USA?
It costs nothing to use Universalsuspenseaccount.com to record differences, but there is a trading system - see question 4.
4. Can I trade my surplus debits or credits?
Yes, a system modelled on trading in emissions allowances has been developed. If you have surplus debits, you can trade them with another party who has surplus credits (and vice-versa). Simply contact a party with surplus credits and negotiate a price. The website does not regulate trading in surpluses but asks that you post the price agreed so that other market participants can use these prices as a guide.
5. Are there any accounting rules relating to the use of the USA?
The only rules developed for the USA are in the USA. Emerging Issues Task Force pronouncement 2009/34 “Difference holders’ accounting for transactions in surplus debits and credits using the Universal Suspense Account” (127pp, $19.95, hardback) is available from the FASB, Amazon and Tesco.
6. Does the USA have applications in other unmatched areas?
As all men, and many women, know, there is a problem with unmatched socks. Men put a pair of socks into the washing basket, and only one returns (but sometimes three). Technically, the one-sock situation is known as “going short in socks”; the three-sock situation is known as “going long in socks”. Applying the general principles of the USA, an unmatched sock in one man’s wardrobe must be matched by a surplus sock in another’s. Universalsuspenseaccount.com can also be used to record unmatched socks, thus allowing men short in socks to contact and trade with men who are long in socks, and thus for equilibrium to be restored.
7. Does the USA have any other uses?
Few have been identified to date, though research continues. Using the USA to facilitate the matching biro’s with biro tops is a key area which is attracting the attention of the greatest academic minds in this area.
1. Does the USA work in different currencies?
Yes. The USA does not just work in dollars. It works in almost all currencies, though we are currently re-programming the website to allow recording of Zimbabwean differences.
2. Does the USA apply worldwide?
More than that, it applies to the universe! Not satisfied with sorting out the Middle East conflict, the USA seeks to reconcile the whole universe. We’ve all encountered accounting practices which we think are either “out of this world” or perhaps, more accurately, “unearthly” – the USA is set up to deal with such differences.
3. How much does it cost to use the USA?
It costs nothing to use Universalsuspenseaccount.com to record differences, but there is a trading system - see question 4.
4. Can I trade my surplus debits or credits?
Yes, a system modelled on trading in emissions allowances has been developed. If you have surplus debits, you can trade them with another party who has surplus credits (and vice-versa). Simply contact a party with surplus credits and negotiate a price. The website does not regulate trading in surpluses but asks that you post the price agreed so that other market participants can use these prices as a guide.
5. Are there any accounting rules relating to the use of the USA?
The only rules developed for the USA are in the USA. Emerging Issues Task Force pronouncement 2009/34 “Difference holders’ accounting for transactions in surplus debits and credits using the Universal Suspense Account” (127pp, $19.95, hardback) is available from the FASB, Amazon and Tesco.
6. Does the USA have applications in other unmatched areas?
As all men, and many women, know, there is a problem with unmatched socks. Men put a pair of socks into the washing basket, and only one returns (but sometimes three). Technically, the one-sock situation is known as “going short in socks”; the three-sock situation is known as “going long in socks”. Applying the general principles of the USA, an unmatched sock in one man’s wardrobe must be matched by a surplus sock in another’s. Universalsuspenseaccount.com can also be used to record unmatched socks, thus allowing men short in socks to contact and trade with men who are long in socks, and thus for equilibrium to be restored.
7. Does the USA have any other uses?
Few have been identified to date, though research continues. Using the USA to facilitate the matching biro’s with biro tops is a key area which is attracting the attention of the greatest academic minds in this area.
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