Accrued expenses
Expenses incurred but not yet paid.
OpenFinancial Dictionary
Accounting & Finance Terms (English)
Accrued Expenses
Accrued expenses are costs that have been incurred but not yet paid. They ensure expenses are matched with the correct period.
Openaccrued expenses payable
A liability account that reflects the estimated amount a company owes for expenses that occurred, but have not yet been paid nor recorded through a routine transaction. To learn more, see Explanation ...
OpenAccrued Income
Accrued income is income earned during a financial period but not received by the end of the period. Accrued income usually does not appear in accounting items because it is classified as accounts rec...
OpenACCRUED INTEREST
is interest earned but not paid since the last due date.
OpenAccrued Inventory
It is an obligation that arises when the actual inventory of the goods is taken and goods are found received from the supplier and the invoice has not yet been sent
OpenAccrued Liabilities
Accrued liabilities are obligations for expenses that have been incurred but not yet invoiced or paid, such as accrued salaries or interest.
OpenAccrued Liability
The amount a company owes for expenses or losses incurred that have not yet been paid nor recorded through a routine transaction.
OpenAccrued Payroll
It is an obligation arising from employees’ salaries that have not been paid yet. For example, the company pays employees’ salaries for the month on the 5th of the following month, and accordingly, th...
OpenAccrued revenue
Revenue earned but not yet billed or collected.
OpenAccrued Revenue
Accrued revenue is revenue that has been earned by providing goods or services but has not yet been billed or collected in cash.
OpenAccrued Revenues
Revenues that have been earned and recorded, but are not as yet collected or Revenue that has been earned but not yet invoiced to the customer also known Accrued Income.
Openaccumulated profit
Retained earnings means retained earnings are profits that have been withheld during financial periods and not disbursed to partners or shareholders
OpenAccumulation Plan
A simple investment method through which large or small amounts of shares are purchased periodically and then the proceeds of those shares are reinvested to buy additional shares. It is also called th...
OpenACH
is Automated Clearing House, Between banks.
OpenAcquisition
is one company taking over controlling interest in another company. See also MERGER and POOLING OF INTERESTS.
OpenAcquistition Cost
Acquistition Cost is the amount, net of any discounts, paid for property, plus transportation costs and ancillary costs.
Openactivity
An event that gives rise to the consumption of resources
OpenActivity Based Costing- ABC
Alternative costing method for strategic management; divides production into activities, defines costs for activities, and allocates costs to objects based on activity consumption
OpenACTIVITY BASED MANAGEMENT (ABM)
converts Activity Based Costing (ABC) into a system to manage an organization. Activity Based Management not only focuses on product, service, customer, channel costing, it also emphasizes: cost drive...
OpenActivity Ratios
activity ratios is ratio that measures resources of entity to generate maximum possible revenue.
OpenActual Cost
is the amount paid for an asset; not its retail value, market value or insurance value.
OpenAdditional Paid in Capital
Amounts paid for shares in excess of its par value or stated value. Also, other amounts paid by stockholders and charged to equity accounts other than capital stock.
OpenAdjusting Journal Entries
Settlement restrictions: are entries that are entered into the accounting system to record some operations that have errors or omissions, or to determine revenues and expenses for the fiscal year in p...
OpenAdverse opinion
Issued when misstatements are both material and pervasive.
OpenAging
To learn more, see Aging in accounting see the aging of accounts, the aging of accounts receivable, or the aging of accounts payable
OpenAging Accounts Receivables
Classify the accounts receivable of the company according to the age of the accounts receivable. It is usually classified for 1 to 30 days, 31 to 60 days, 61 to 90 days, and more than 90 days
OpenAging of Accounts Payable
Classification of accounts payable according to the accrual time periods, usually they are classified according to due within 30 days, and due between 30 to 60 days and due between 60 to 90 days and m...
OpenAI Auditing
The use of artificial intelligence and machine learning in audit processes to analyze large datasets.
OpenAllowance for Doubtful Debts
The allowance for doubtful debts is an estimate of the portion of accounts receivable that may not be collected. It helps present receivables at a more realistic value.
OpenALTMAN Z-SCORE
"ALTMAN Z-SCORE reliably predicts whether a company is likely to enter bankruptcy within a year or two: ALTMAN Z-SCORE If your Z-Score is 3.0 or higher - bankruptcy is unlikely. ALTMAN Z-SCORE If the ...
OpenAmortisation
The systematic allocation of the cost of an intangible asset over its useful life.
OpenAmortization
Amortization is the systematic allocation of the cost of an intangible asset over its useful life.
Openan Audit
An audit is an independent examination of accounting, financial records and financial statements to determine whether they are in compliance with International Financial Reporting Standards (IFRS) law...
OpenAnalytical procedures
Evaluations of financial information by studying plausible relationships among data.
OpenAnnual Report
Report to the stockholders of a company which includes the company's annual, audited balance sheet and related statements of earnings, stockholders' or owners' equity and cash flows, as well as other ...
OpenAP
Acronym for Accounts Payable
OpenAPB
Acronym for Accounting Principles Board or an Accounting Principles Board opinion (GAAP).
OpenAPB 18
is the Accounting Principles Board Equity Method of Accounting for Investments in Common Stock.
OpenAR
Acronym for Accounts Receivable
OpenArm’s length principle
Transactions between related parties must be priced as if they were independent.
OpenAsset
An asset is, in simple terms, anything the company owns that has value. More professionally, an asset is an economic resource owned or controlled by the entity as a result of past events and is expect...
OpenAsset
An asset is a resource controlled by an entity that is expected to provide future economic benefits.
OpenAssets
Assets mean all the things owned by an entity and the potential future benefits of the entity. They are also called economic resources and have future economic value measured in money. Assets are typi...
OpenAssets Held For Sale
are those assets, primarily long-term assets, that an entity wishes to dispose of or liquidate through sale to others.
Openassign
assign In cost accounting this term means to allocate, apply, apportion, or spread manufacturing overhead costs to the production output, In terms of accounts receivable, assign means to pledge accoun...
OpenAssigned Value
Assigned Value is a value that serves as an agreed-upon reference for comparison; normally derived from or based upon experimental work of some national or international organization.
OpenAssociate
An associate is an entity over which the investor has significant influence but not control, generally indicated by owning 20% to 50% of the voting power.
OpenAudit
An audit is an independent examination of financial information to express an opinion.
OpenAudit documentation
The record of audit procedures, evidence, and conclusions.
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