At 11:09 AM 8/27/94 -0700, Eric Hughes wrote:
One can consider that a digital cash exchange creates a delay between the two legs of the transaction. In between the beginning and end, the transaction is suspended. That's the sense of the word.
If you mean the transaction that occurs between the net as a whole and underwriter. I agree. There may be lots of non-trivial transactions on the net in the meantime, however. Nevertheless I'll keep using "suspension account" until I'm disabused of it, for lack of a more descriptive word, than for anything else.
"Float" is a financial concept, not an accounting one or a legal one. The issues are greater than financial ones only, and the terminology needed is correspondingly greater.
As an aside, most finance professors consider accounting to be applied finance. I expect that accountants don't take to that kindly, however. "Float" reminds me of "kiting checks", for some reason, so I'm glad not to use it now. Cheers, Bob Hettinga ----------------- Robert Hettinga (rah@shipwright.com) "There is no difference between someone Shipwright Development Corporation who eats too little and sees Heaven and 44 Farquhar Street someone who drinks too much and sees Boston, MA 02331 USA snakes." -- Bertrand Russell (617) 323-7923