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3107 results for "pro rata"

What is the meaning of pro rata? Author: Harold Averkamp, CPA, MBA Pro rata is a Latin term that means in proportion. Pro rata is related to prorate, a term used in cost accounting. To illustrate the term pro rata,...

is the meaning of pro rata? What is the return on stockholders' equity (after tax) ratio? Why aren't retained earnings distributed as dividends to the stockholders? Do corporations issue both common stock and...

What are pro forma financial statements? Author: Harold Averkamp, CPA, MBA Definition of Pro Forma Financial Statement A pro forma financial statement is one based on certain assumptions and projections (as opposed to...

To assign or allocate on a logical basis. For example, the materials price variance in a standard costing system is prorated to the following categories: materials inventory, work-in-process inventory, finished goods...

The amount received from the sale of an asset, from the issuance of bonds or stock, or from a bank loan.

The products with significant value that emerge at a split-off point in a process. When a joint product has little value it is referred to as a by-product.

In manufacturing, the product cost includes direct materials, direct labor, and manufacturing overhead. A retailer’s product cost is the net cost from suppliers plus costs to get the product in place and ready for...

The statements, standards, interpretations and other financial reporting guidelines issued by the Financial Accounting Standards Board. The FASB pronouncements are available at www.FASB.org.

Work-in-progress is the long-term asset account that is used to report the amounts spent on the construction of buildings and equipment until the asset is completed and put into service.

Also referred to as illusory profits. Occurs because accountants use past costs rather than replacement costs. For example, in computing the cost of goods sold accountants often use the FIFO cost flow assumption. This...

A sole proprietorship, partnership, or corporation organized for the purpose of earning profits and enhancing the financial position of the owners.

and it will decrease in total as sales decrease. Mixed Wrong. A retailer's cost of goods sold will increase in total as sales increase and it will decrease in total as sales decrease. Mark the Quiz as Complete...

A department within a factory that does not directly produce a product. Examples are the factory maintenance department, factory administrative department, and quality assurance department.

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For the past 52 years, Harold Averkamp (CPA, MBA) has worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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