Pronunciation: [sˈʌk] (IPA) 
The word "SUC" is spelled with three letters, "s," "u," and "c." The first letter, "s," is pronounced as /s/ in IPA phonetic transcription. The second letter, "u," is pronounced as /ʌ/ in IPA which is a short vowel sound. The final letter, "c," is pronounced as /k/ in IPA. When put together, the three letters form the word "SUC," which is pronounced as /sʌk/. The spelling of this word is straightforward and easy to remember.
SUC, an acronym for "Sistema Único de Cuentas" is a Spanish term that translates to "Unified System of Accounts" in English. The SUC is a standardized accounting system used primarily in Latin American countries, particularly in the public sector, for the recording, classification, and presentation of financial information.
The SUC is designed to provide a consistent and comprehensive framework for financial reporting. It aims to enhance transparency, comparability, and reliability of financial statements across different entities within the public sector. The system establishes a uniform chart of accounts, which enables the classification and recording of financial transactions in a standardized manner. It includes various categories and subcategories that allow for detailed reporting and analysis of financial data.
The SUC covers different aspects of financial reporting, including assets, liabilities, equity, revenues, and expenses. It provides guidelines on the measurement, recognition, and disclosure of financial items, ensuring consistency and conformity to generally accepted accounting principles.
Furthermore, the SUC facilitates the preparation of financial statements, such as balance sheets, income statements, and cash flow statements, which are essential for decision-making, budgeting, and accountability purposes. It also serves as a basis for financial analysis, benchmarking, and performance evaluation of public entities.
Overall, the SUC is an important tool that promotes standardization and transparency in financial reporting within the public sector, enabling stakeholders to gain accurate and reliable information about the financial performance and position of organizations.
A prefix, another form of sub, which see.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
