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Accounting
Banking

Face of Balance Sheet

Presenting an item as a heading or line item on assets or liabilities side of an entity's balance sheet. If...

Factory Overhead Control Account

For a manufacturer, it is a type of control account that tracks and control the indirect manufacturing costs (overhead costs)...

Manufacturing Overhead Control Account

For a manufacturer, it is a type of control account that tracks and control the indirect manufacturing costs (overhead costs)...

Permanent Account

A general ledger account (GL account) that does not close at the end of the accounting year (as opposed to...

Temporary Account

A type of account (a general ledger account/ GL account) that closes at the end of each accounting year. Basically,...

Cost Accounting

A branch of accounting that is concerned with producing the information that enables an entity's management to control and evaluate...

OH Control Account

For a manufacturer, it is a type of control account that tracks and control the indirect manufacturing costs (OH: overhead...

Overheads Control Account

For a manufacturer, it is a type of control account that tracks and control the indirect manufacturing costs (overhead costs)...

Nominal Account

A type of account (a general ledger account/ GL account) that closes at the end of each accounting year. Basically,...

Real Account

A general ledger account (GL account) that does not close at the end of the accounting year (as opposed to...