It stands for below the line; in the income statement (profit and loss/ PnL) it describes income and expenditure (expenses)...

Disclosures that relate to financial information not appearing in the core accounts of a business (balance sheet, income statement, and...

An accounting basis of recording transactions and events whereby recognition of revenues and expenses takes place when an economic exchange...

An accounting basis of recording transactions and events only when cash receipt/ payment is involved. More specifically, cash accounting is...

The process (and accounting practice) of increasing the recorded value of an asset or a liability. It also refers to...

In relation to debts (liabilities) and receivables/ inventory (assets)- usually associated with credit sales), it is the elimination of the...

The process of reducing part of the balance of an asset due to occurrence of some economic event that negatively...

The collective or overall well-being of a group/ community of people and institutions that are being served by professional accountants...

It stands for accumulated other comprehensive income; the amount of other comprehensive income (OCI) that is accumulated by a firm...

The amount of other comprehensive income (OCI) that is accumulated by a firm over a period of time. Accumulated other...