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Meder, Anthony; Schwartz, Steven T.; Wu, Mark; Young, Richard A. – Accounting Education, 2014
Financial services are an increasingly important sector in modern economies, yet many accounting and auditing texts focus on manufacturing and retailing. This teaching note describes the role of financial institutions in transforming long-term, difficult-to-sell assets into short-term bank accounts. This is referred to as liquidity transformation.…
Descriptors: Financial Services, Accounting, Banking, Business Administration Education