Regression analysis with only one independent variable.
Regression analysis with only one independent variable.
See income statement. To learn more, see Explanation of Income Statement.
an additional share of stock, the difference of $19.90 will be recorded in a separate stockholders’ equity account entitled Premium on Common Stock or Paid-in Capital in Excess of Par Value–Common Stock . Join PRO...
A technique for estimating the number of years or the interest rate necessary to double your money. Divide 72 by the interest rate and you will have the approximate number of years needed to double your money. If your...
For a manufacturer these would include factory supplies and other materials considered to be manufacturing overhead.
See uncleared check.
In securities, a party that assists a company in issuing stock or bonds.
A current asset that reports the amount paid for dues that have not yet expired. As the prepaid dues expire, the account Prepaid Dues is reduced and dues expense is increased.
See Financial Accounting Standards Board.
A liability account that reports the amount of taxes that a company owes as of the balance sheet date.
The current price for a commodity or other item to be delivered immediately.
Costing system wherein fixed manufacturing overhead is allocated to (or absorbed by) products being manufactured. This system, which treats fixed manufacturing costs as a product cost, is required for external financial...
This term is used in place of retained earnings when the balance in the retained earnings account is negative (a debit balance).
See external financial reporting.
The party who delivered its goods to another party (consignee). The objective is for consignee to sell the goods for the consignor. Also see consigned goods.
Management information system.
A special or specialized journal to record sales of merchandise to customers. In a manual system this saves a significant amount of recording time. In today’s computerized environment, sales are recorded...
Costs that have been used up or consumed. Expired costs are reported as expenses. (Costs that have not yet expired are reported as assets.)
Cash that can be used only for the purpose intended.
See certified public accountant.
Also referred to as draws. These are a reduction of owner’s equity, but are not a business expense and they do not appear on the sole proprietorship’s income statement.
Usually means to scrap a long-term plant asset and receive no proceeds from its disposal.
See endowment fund.
See Public Company Accounting Oversight Board (PCAOB).
A term that is sometimes used interchangeably with gross profit. Others use the term to mean the percentage of gross profit dollars divided by net sales dollars.
A discount that often varies by customer. For example, a company may sell its products to a variety of resellers. Some of the resellers might buy $1 million of products each year, other resellers might purchase $100,000,...
This account is a non-operating or “other” expense for the cost of borrowed money or other credit. The amount of interest expense appearing on the income statement is the cost of the money that was used...
A current liability account that reports the amounts of cash dividends that have been declared by the board of directors but not yet distributed to the stockholders.
The increase in a carrying amount. Also see write-up work.
See direct labor efficiency variance and variable manufacturing overhead efficiency variance.
A stockholders’ equity account that generally reports the net income of a corporation from its inception until the balance sheet date less the dividends declared from its inception to the date of the balance...
An official pronouncement by the Financial Accounting Standards Board that involves a previously issued FASB Standard. FASB Interpretations are part of the generally accepted accounting principles.
Part of stockholders’ equity representing the fair market value of an asset at the time it was received as a gift. For example, a corporation may be given a large tract of land from a community if the corporation...
Manufactured products that are often expressed in units, machine hours, etc.
A company might construct a building and then sell the building to an investor who in turn leases the building back to the company.
The expenses directly incurred by a nonprofit organization in providing one of its programs.
See not sufficient funds (NSF) check.
Featured Review
"I currently hold the position of Environmental, Health, and Safety Specialist. I became a PRO user because while pursuing my degree in paralegal studies, I was required to take classes in accounting. My online class was completely self-taught, and I found myself struggling to understand the concepts as they were presented in the textbook. When I looked for online help, I found AccountingCoach. Becoming a PRO user allowed me to access lessons that made understanding my classes so much easier. I like that the lessons walk you through the concepts of accounting and are very clear to understand. They don't throw too much at you at one time; they make it easy for you to grasp one lesson before moving on to the next. Thanks to AccountingCoach, I was able to complete my accounting classes and graduate with my degree. Since then, I have become responsible for the finances of my team, and everything I have learned allows me to work with our finance department each quarter to review our books." - Chad B.
Join PRO or PRO Plus and Get Lifetime Access to Our Premium Materials
Read all 2,645 reviews
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.
We now offer 10 Certificates of Achievement for Introductory Accounting and Bookkeeping: