Broadly speaking, it is the exact amount of expense that is incurred in connection with an operation/ requirement as opposed...

An accounting method that is applied as an inventory control for the practical purpose of categorizing inventory by order of...

An accounting method that is applied as an inventory control for the practical purpose of categorizing inventory by order of...

A market where transactions involving an asset or a liability occur in a frequency and volume enough to establish a...

Profit or loss pertaining to a specific accounting period before deducting tax expense. In other words, it refers to profit...

A set of methods, rules, principles, bases, conventions, and practices that is used and applied by an entity in the...

The basic principles that determine the timing of recording (recognizing) revenue, expense, gain, and loss in the statement of income...

In connection with asset depreciation, it refers to the amount of depreciation written off to date. In other words, it...

A resource that is controlled by a business (entity) as a result of a past transaction/ event and is expected...

In the income statement (profit nd loss/ PnL) it describes all expenditure (expenses) incurred by a firm before taxes and...