An accounting concept that considers a firm (a business or an entity) to be financially separate from its owners. This...

An event (e.g., a transaction, business or financial) that takes place after the end or close of the accounting/ reporting...

A lease contract that provides a lessee the right to use an asset without enjoying the benefits of ownership. The...

The amounts of funds that have been provided by owners of a business (firm) as well as their claims on...

Previously known as balance sheet, it is a detailed projection of the assets, liabilities, and owners' equity of a business...

It stands for statement of financial position; previously known as balance sheet, it is a detailed projection of the assets,...