THE NEW YORK TIMES, WEDNESDAY AUGUST 31

 

People and Business

‘Credit Memorandum’ Definition Fielded by Yogi Berra in a Book

 

   There among half a hundred college professors , bankers, businessmen and accounting luminaries is Lawrence Peter Berra of Montclair, N.J. Mr. Berra— known in other circles as Yogi — was among the sharp-eyed readers of “Accounting: The Language of Business” who made suggestions incorporated in its newly published third edition. The slim paperback includes a 53 page glossary of accounting terms from A.A.A. (American Accounting Association) to zero-based budgeting.

   In its first edition, the book’s four authors, all accounting professors, offered $1.00 plus a published thank-you to any reader who suggested an additional entry for the glossary.  Yogi’s suggestion was ‘credit memorandum’ explained as a document a seller uses to inform a buyer that its account receivable is being credited, or reduced because of errors, returns, or allowances.

   Yogi, got into the ballgame as a friend of Thomas Horton, whose small company, Thomas Horton & Daughters publishes the book. (The daughters are Lee Ann, 20 years old; Marcia, 18, and Karen, nearly 16.)

 

 

 

More Reviews of previous editions of Accounting: The Language of Business