10-k
is the audited annual report that most reporting companies file with the Securities and Exchange Commission (SEC). It provides a comprehensive overview of the registrant's business. The report must be...
OpenFinancial Dictionary
Accounting & Finance Terms (English)
10-Q
is a report filed quarterly to the Securities and Exchange Commission (SEC) by most reporting companies. It includes unaudited financial statements and provides a continuing view of the company's fina...
Open13TH PERIOD
in the fiscal year is the period used for fiscal year-end adjusting entries (periods 1-12 being the months in the fiscal year).
Open15 Minute Rule
is a timekeeping method used as a semi-official delay prior to ending or beginning an activity. For example: a. Only waiting for a tardy college instructor for 15 minutes prior to the class being term...
Open2-WAY MATCHING
is the comparison of relevant voucher to purchase order.
Open3% RULE
THREE PERCENT (3%) RULE is a rule used in vesting pension plan benefits. The participant's accrued benefit must be at least equal to 3% of the participant's normal projected retirement benefit for eac...
Open3-WAY MATCHING
is the comparison of relevant voucher, purchase order, and receiver.
Open4 C's OF CREDIT
are the four primary considerations that will affect a lender's decision to approve or decline your loan application. Known as the 4 C’s of credit: 1. Capacity - what is your ability to repay the loan...
Open4-4-5 Calendar
in budgeting and accounting, is the breakdown of each month into weeks by counting the number of times Friday occurs within each month, e.g., Jan = 4 weeks, Feb = 4 weeks, Mar = 5 weeks, Apr = 4 weeks...
Open401 (K) PLAN
is a retirement plan in the United States that allows qualified employees to contribute money from their paychecks into a tax-sheltered account.
Open401(k) expense: delivery
Under the accrual method of accounting, this account reports the employer's expense for the company's 401(k) plan associated with the employees in the delivery department during the period indicated i...
Open401(k) expense: selling & admin
Under the accrual method of accounting, this account reports the employer's expense for the company's 401(k) plan associated with the employees in the selling and administrative departments during the...
Open401(k) expense: warehouse
Under the accrual method of accounting, this account reports the employer's expense for the company's 401(k) plan associated with the employees in the warehouse department during the period indicated ...
Open401(k) payable
This current liability account reports the amount a company owes (is required to remit) for its employees' 401(k) program as of the date of the balance sheet.
Open8-K
is a document required by the SEC to announce certain significant changes in a public company, such as a merger or acquisition, a name or address change, bankruptcy, change of auditors, or any other i...
Open80 - 20 Rule (Pareto Principle/Law)
is a general rule of thumb in business that says that 20% of the items produce 80% of the activity, while 20% of the product line produces 80% of the sales, 20 % of the customers generate 80% of the c...
Open940 Form
is the U.S. IRS Employer's Annual Payroll Tax form.
Open941 Form
is the U.S. IRS Employer's Federal Quarterly Payroll Tax form.
OpenA Misstatement is Inconsequential
If a reasonable person would conclude after considering the possibility of further undetected misstatements that the misstatement either individually or when aggregated with other misstatements would ...
OpenA traceable fixed cost
A traceable fixed cost is a fixed cost that is incurred because of the existence of a segment. If the segment had never existed, the fixed cost would have not been incurred; and if the segment were el...
OpenA&E
can mean either Appropriation & Expense or Analysis & Evaluation.
OpenA&G
is Administrative & General.
OpenA&M
is Additions and Maintenance.
OpenA&P
is an acronym for Administrative and Personnel.
OpenABA
(Accredited Business Accountant or Accredited Business Advisor), in the US, is a national credential conferred by Accreditation Council for Accountancy and Taxation to professionals who specialize in ...
OpenAbatement
complete removal of an amount due, (usually referring to a tax abatement a penalty abatement or an interest abatement within a governing agency.)
OpenABC
is an acronym for Activity Based Costing.
OpenABC inventory system
The ABC inventory system is different from activity-based costing. The ABC inventory system is used in order to focus on the most important items in inventory. Usually a relatively few items will acco...
OpenABM
is an acronym for Activity Based Management.
OpenAbnormal Returns
is the difference between the actual return and that is expected to result from market movements -normal return.
OpenAbnormal Spoliage
is spoilage that is not part of everyday operations. It occurs for reasons such as the following: out-of-control manufacturing processes, unusual machine breakdowns, and unexpected electrical outages ...
OpenAbove The Line
Above the line in accounting, refers to items of income and expenses that are fully and directly included in the calculation of periodic net income, as opposed to items below it that affect capital ac...
OpenAbsorb
is to assimilate, transfer or incorporate amounts in an account or a group of accounts in a manner in which the first entity loses its identity and is "absorbed" within the second entity. For example,...
OpenABSORBED COSTS
incorporates both variable and fixed costs.
OpenAbsorption Costing
is the method under which all manufacturing costs, both variable and fixed, are treated as product costs with non-manufacturing costs, e.g. selling and administrative expenses, being treated as period...
OpenAbsoult Change
is a numerical change in an empirical value, e.g. cost of goods was reduced by $3.00.
OpenACAT
Accreditation Council for Accountancy and Taxation- ACAT is a national organization established in 1973 as a non-profit independent testing, accrediting and monitoring organization. The Council seeks ...
OpenACB
normally refers to Adjusted cost base.
OpenAccelerated Depreciation
Method that records greater DEPRECIATION than STRAIGHT-LINE DEPRECIATION in the early years and less depreciation than straight-line in the later years of an ASSET S holding period. (See STRAIGHT-LINE...
Openaccount
A record in the general ledger that is used to collect and store similar information. For example, the company will have a cash account in which every transaction involving cash is recorded. The compa...
Openaccount Aging
Aging of accounts is a technique used by the management to classify accounts according to the due date. For accounts receivable or for accounts payable. To find out more, you can review the aging of a...
OpenAccount Analysis
is a way to measure cost behavior. It selects a volume-related cost driver and classifies each account from the accounting records as a fixed or variable cost. The cost accountant then looks at each c...
OpenAccount Balance
The account balance is the balance resulting from the net value between the credit values and the debit values. The account balance may be a credit or a debit
OpenAccount Current
is a running or continued account between two or more parties, or a statement of the particulars of such an account.
OpenAccount Distribution
is the process by which debits and credits are identified to the correct accounts.
OpenAccount Group
in accounting, is a designation of a group of accounts of like type (for example: fixed assets, cash & Cash Equiation and fixed assets).
OpenAccount Payable
Amount owed to a creditor for delivered goods or completed services.
OpenAccount Receivable
Claim against a debtor for an uncollected amount, generally from a completed transaction of sales or services rendered.
OpenAccountable Plan
An accountable plan is any reimbursement or other expense allowance arrangement of an employer that meets all of the following requirements (therefore excluding it from gross w 2 earned income and tax...
OpenAccountant's Opinion
is a signed statement regarding the financial status of an entity from an independent public accountant after examination of that entities records and accounts.
Open