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3107 results for "chief financial officer (CFO)"

Officers of a corporation are appointed by the board of directors to execute the policies that have been established by the board of directors. The officers include the chief executive officer (CEO), the chief operations...

What is the role of a company's controller? Author: Harold Averkamp, CPA, MBA Definition of Company Controller A company’s controller is considered to be the chief accounting officer and the head of the accounting...

Our Explanation of Stockholders' Equity covers the unique terminology for a corporation's paid-in capital, retained earnings, treasury stock, and accumulated other comprehensive income. Included are cash dividends, stock...

The chief accounting officer of a company. This person would head up the accounting department.

This financial statistic is the net income of a corporation after income tax (less any preferred dividends) divided by the weighted average number of shares of common stock outstanding during the same period of time.

What is the dividend yield? Author: Harold Averkamp, CPA, MBA The dividend yield is the annual cash dividend per share of common stock divided by the market price of a share of the common stock. Usually, fast growing...

An allowance granted to a customer who had purchased merchandise with a pricing error or other problem not involving the return of goods. If the customer purchased on credit, a sales allowance will involve a debit to...

Someone who performs a task for a company, but is not an employee. The IRS has criteria to assist in distinguishing between an independent contractor and an employee.

A current asset account that reports the amount of future rent expense that was paid in advance of the rental period. The amount reported on the balance sheet is the amount that has not yet been used or expired as of the...

Usually a claim on an asset that is pledged as collateral. The lien is usually filed with a government office.

Under accrual accounting it is the rent earned during the period indicated in the heading of the income statement, regardless of when the money is received from the tenant.

What is an intangible asset? Author: Harold Averkamp, CPA, MBA Definition of Intangible Asset An intangible asset is an asset that you cannot touch, since it lacks physical substance. Accountants record intangible assets...

What is a fixed cost? Author: Harold Averkamp, CPA, MBA Definition of Fixed Cost A fixed cost is one that does not change in total within a reasonable range of activity. Since the fixed cost remains constant in total,...

What are semivariable costs? Author: Harold Averkamp, CPA, MBA Definition of Semivariable Costs Semivariable costs are costs or expenses whose behavior is partially fixed and partially variable. That is, part of the...

A long-term asset account reported on the balance sheet under the heading of property, plant, and equipment. Included in this account would be copiers, computers, printers, fax machines, etc.

Are repairs to office equipment an expense? Author: Harold Averkamp, CPA, MBA Repairing and maintaining office equipment is an immediate expense. This is true even if the repair cost is a very large amount. If a large...

In the 1970’s the Financial Accounting Standards Board (FASB) articulated three objectives of financial reporting. In summary, financial information should (1) be useful to investors and lenders, (2) be helpful in...

What is financial reporting? Author: Harold Averkamp, CPA, MBA Definition of Financial Reporting Financial reporting includes all of a company’s communication of financial information to people outside of the company....

One of the main financial statements of a nonprofit organization. This financial statement reports the amounts of assets, liabilities, and net assets as of a specified date. This financial statement is similar to the...

Financial Accounting Author: Harold Averkamp, CPA, MBA 114 Q&A Popular Recent What is the accrual basis of accounting? What is the distinction between debtor and creditor? What is accounting? Where do dividends appear on...

Financial statements that bear the report of independent auditors attesting to the financial statements’ fairness and compliance with generally accepted accounting principles.

Financial statements that reflect the total economic entity. For example, on a consolidated income statement a corporation having several subsidiaries would report the total of all of its companies’ sales that were...

Refers to the accounting associated with the preparation of the main financial statements: income statement, balance sheet, statement of cash flows, statement of retained earnings, statement of stockholders’...

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