A method of accounting that records all assets at a set of value measures (asset valuation bases) such as current...

The accounting treatment of a reserve. The account (e.g., retrained earnings account) from which a reserve is being appropriated will...

A financial reporting period that constitutes a part of a full accounting year. It is a part of the current...

A part of the current accounting year that has passed away or is reportable for the time being. In many...

An account that appears on liability and owners' equity side of the statement of financial position (balance sheet) constituting appropriation...

A liability whose timing and/ or amount are uncertain (whether arising from a legal or constructive obligation). It is an...

Goods which are returned to the business (entity) by its customers for whatever reason (defective or damaged goods, different goods...

Goods which are returned to the business (entity) by its customers for whatever reason (defective or damaged goods, different goods...

It refers to all types of returns, whether returns outwards (purchases returns) or returns inwards (sales returns). By definition, returns...

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