The abbreviation for the accounting and bookkeeping term debit.
The abbreviation for the accounting and bookkeeping term debit.
The elimination of part or all of a markdown.
An asset which serves as collateral for a loan.
See contingent loss.
See inventory conformity rule.
See inventory: work-in-process (WIP).
The Roman numerals that indicate 1,000,000.
See endowment fund.
The British term for controller.
See dividends in arrears.
Relevant or meaningful data.
See not sufficient funds (NSF) check.
See American Institute of Certified Public Accountants.
See stockholders’ equity.
See chief operating officer.
Financial Executives Institute.
See carrying amount.
The supplier of goods or services.
See sales.
See Supplies.
See U.S. Treasury bills.
See temporary accounts.
See net present value.
See Financial Accounting Standards Board.
See boards of accountancy.
Also known as a journal.
See current ratio.
, to bid on a job, or some other unique requirement. Although most small businesses are not required to have a CPA involved, a small business may engage a CPA to review its internal controls, evaluate accounting...
To repurchase bonds that the company had previously issued.
A “book” containing accounts. For example, there is the general ledger that contains the balance sheet and income statement accounts. There is a subsidiary ledger that contains the detailed, customer account...
See fixed manufacturing overhead volume variance.
Also known as income from operations, which excludes discontinued operations, extraordinary items, and nonoperating items such as interest expense, investment income, gains, and losses.
The statement of the Financial Accounting Standards Board entitled Financial Statements of Not-for-Profit Organizations. This statement was originally issued in June 1993 and can be read at no cost at www.FASB.org.
A non-operating item resulting from the sale of this long-term asset for less than its carrying amount (or book value).
See variable manufacturing overhead spending variance.
A listing of the general ledger accounts and their account balances at a point in time after the adjusting entries have been posted. The grand total of the accounts with debit balances should equal the grand total of the...
A restricted asset for the purpose of retiring a bond.
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.
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