A detailed exploration of the -auditor-: a person or accountancy firm employed to check the accounts of a company, private trader, or association.
A liability that will only arise under certain specific circumstances.
The year used for accounting purposes by a government, varying by country.
A reduction in the recorded value of an asset when its fair market value has significantly dropped below its carrying amount.
Definition and analysis of current liabilities, their significance, and applications in economic contexts
The term Work in Progress refers to materials and partially finished products that are at various stages of the production process.
A comprehensive overview of the term 'accounting,' including its subfields and applications within economic theory.
The period of time, normally a year, to which a set of company accounts refers.
A comprehensive explanation of accounts and accountability within environmental economics.
An entry describing the concept of Accounts Payable, its meaning, and relevance in economics.
An account detailing the allocation of total available funds within an organization.
The process of examining and verifying a company's financial records to ensure accuracy, compliance, and consistency with established standards.
The estimation recorded in the accounts by a creditor reflecting the anticipated write-offs of bad debts.
Items following but not part of the profit-and-loss accounts of firms or the income sections of national income accounts.
A term used to describe either the four largest UK 'high street' banks or the four largest accounting firms.
An overview of the term 'Book Value' in economics, its implications, and applications in business finance
The profit or loss on an activity, typically shown at the foot of financial statements.
A comprehensive exploration of capital expenditure in economics, including its definition, historical context, and various analytical frameworks.
The part of a company's net assets that exceed the share capital contributed by shareholders, typically arising from various sources and generally retained rather than distributed as dividends.
An overview and analysis of the discipline of cost accounting, which focuses on the measurement and assessment of economic activities' costs.
A practice of using alternative, usually permitted, methods to manipulate accounting figures to present desired financial outcomes.
The balance-sheet item showing debts owing to others, divided between payments due in under a year and other debts.
Definition and analysis of current assets, frequently turned over in business operations and distinguished from fixed assets.
An overview of debtors, their composition, and their accounting classification.
Accounting method for the depreciation of assets with a fixed annual percentage reduction
The system of keeping accounts in which every payment appears twice in different accounts to ensure accuracy and consistency, once as a credit and once as a debit.
Accounting convention assuming first-use of oldest materials in stock.
Understanding the concept of gross profit in economics and its significance in financial analysis
The profit of a company before deducting depreciation allowances, taxation, or debt interest.
An exploration of the term 'historical cost' in economics, detailing its definition, implications, and significance within various economic frameworks.
An overview of the concept, significance, and challenges of inflation accounting in economic theory and practice.
An independent body responsible for developing the International Financial Reporting Standards.
An accounting method for inventory management focusing on the order of stock withdrawal.
An account of an organization’s receipts and spending over a period, providing insights into profits and losses.
The method of depreciating fixed assets by applying a constant percentage to their remaining value each year.
The method of valuing assets and calculating depreciation allowances using the costs of replacing buildings and equipment.
A method of accounting for depreciation of an asset by evenly distributing its cost over its assumed useful life.
The principle that financial accounts should provide a correct and honest impression of the financial state of a company.
A reduction in the value assigned to a transaction in the accounts to zero, as well as the status of an asset severely depreciated due to an accident.
