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Banking

Provision

A liability whose timing and/ or amount are uncertain (whether arising from a legal or constructive obligation). It is an...

Returns Inwards

Goods which are returned to the business (entity) by its customers for whatever reason (defective or damaged goods, different goods...

Sales Returns

Goods which are returned to the business (entity) by its customers for whatever reason (defective or damaged goods, different goods...

Returns

It refers to all types of returns, whether returns outwards (purchases returns) or returns inwards (sales returns). By definition, returns...

Accumulated Depreciation

In connection with asset depreciation, it refers to the amount of depreciation written off to date. In other words, it...

Useful Life

In the context of asset depreciation, it refers to the period over which an asset subject to depreciation (depreciable asset)...

Depreciation Basis

The amount assigned to an asset (asset account) that is subject to depreciation since its acquirement and over the course...

Basis for Depreciation

The amount assigned to an asset (asset account) that is subject to depreciation since its acquirement and over the course...

Depreciable Cost

The amount assigned to an asset (asset account) that is subject to depreciation since its acquirement and over the course...

Depreciable Amount

The amount assigned to an asset (asset account) that is subject to depreciation since its acquirement and over the course...