The frequency with which an asset (usually a depreciable asset) is replaced by another asset, either with similar/ identical features,...

A reserve (reserve account) that an entity creates out of uncontributed revenue gains for the net profit which is generated...

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

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

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...

An accounting concept that implies that revenue is considered to be earned (realized) once goods or services are sold/ delivered...

An accounting concept that implies that revenue is considered to be earned (realized) once goods or services are sold/ delivered...

The process of reclassifying gains or losses from equity (fair value changes) to P&L (statement of profit and loss, SOPL)...

The process of reclassifying gains or losses from equity (fair value changes) to P&L (statement of profit and loss, SOPL)...