Filter by Categories
Accounting
Banking

Tangible Item

A physical item that is owned by an entity and is reported on its balance sheet (statement of financial position)...

Tax Base of a Liability

The amount (on an entity's books) that is attributed to a liability for tax purposes. It constitutes the carrying amount...

Tax Base of an Asset

The amount (on an entity's books) that is attributed to an asset for tax purposes. This amount will be deductible...

Tax Base

For an asset, it is the amount (on an entity's books) that is attributed to it for tax purposes. Likewise,...

TFV Concept

In connection with an audit report (auditor's opinion) on an entity's financial statements and accounts, true and fair view is...

TFO

It stands for true and fair override; a provision/ condition (embedded in accounting standards) that calls for departure from the...

True and Fair Override

A provision/ condition (embedded in accounting standards) that calls for departure from the requirements of a specific standard when compliance...

TFV

It stands for true and fair view; in connection with an audit report (auditor's opinion) on an entity's financial statements...

True and Fair View

In connection with an audit report (auditor's opinion) on an entity's financial statements and accounts, true and fair view is...

Tax Depreciation

A tax deduction that an entity claims for the natural wear and tear of its assets (tangible assets) over their...