A increase in cost of one alternative over the cost of another. In other words, it constitutes the change in...

A budget that presents a forecast of an entity's expense items to be incurred and revenue to be generated from...

The restatement of an entity's financial statements that is prompted by discovery of an accounting error (material error) in prior...

In relation to differential analysis, it is the difference between the costs of two alternative courses of action/ methods/ choices...

A journal entry that is made in order to correct an accounting error. Correcting entries are an adjustment to an...

One of multiple ways of a management's intervention to correct an accounting error (particularly, immaterial error) that, rather than restating...

An accounting error (error) that arises from incorrect, false or misleading information that “immaterially” (to a limited extent) affects an...

An accounting error (error) that arises from incorrect, false or misleading information that “materially” (excessively or to a great extent)...

A faulty recognition, measurement, presentation or disclosure of an element/ item or more of previously issued financial statements (statements of...

An obligation (liability) that an entity may, or may not, incur depending on the outcome of an uncertain future event...