An accounting allowance that reduces the gross cost of an asset to arrive at the net cost (the net balance...

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

Notes which provide clarification and additional information about specific items in the statement of income (P&L), statement of cash flows,...

Notes which provide clarification and additional information about specific items in the statement of income (P&L), statement of cash flows,...

Notes which provide clarification and additional information about specific items in the statement of income (P&L), statement of cash flows,...

A financial statement (FS) that lays out a minimum content for interim financial reporting requirements. This is meant to provide...

A financial statement that lays out a minimum content for interim financial reporting requirements. This is meant to provide a...

A revenue that an entity/ a business has not yet earned. In other words, it refers to all amounts received...

A contra account for revenues, i.e., a revenue account that has a debit balance, rather than the credit balance of...

A contra account for revenues, i.e., a revenues account that has a debit balance, rather than the credit balance of...