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| − | [[Cash Short and Over]] is the account that records cash shortages and overages. If the ending balance is a debit. | + | [[Net income]] (alternatively known as [[net profit]]; hereinafter, the ''Result'') is the financial result of [[operations]] when [[Fiscal Revenue|revenue]] totals more than [[expenses]]. The ''Result'' can also be calculated while taking [[expenses]] away from the [[gross profit]] (or [[gross loss|loss]]). |
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| | ==Definitions== | | ==Definitions== |
| | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], |
| − | :[[Cash Short and Over]]. The account that records cash shortages and overages. If the ending balance is a debit. | + | :[[Net income]]. The financial result of [[operations]] when [[Fiscal Revenue|revenue]] totals more than [[expenses]]. |
| | + | According to [[Cost Accounting by Horngren, Datar, Rajan (14th edition)]], |
| | + | :[[Net income]]. Operating income plus nonoperating revenues (such as interest revenue) minus nonoperating costs (such as interest cost) minus income taxes. |
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| | ==Related concepts== | | ==Related concepts== |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]]. | + | *[[Bookkeeping]]. Recording, filing, and retrieving of [[financial data]], as well as producing those [[financial report]]s that are required by laws. |
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| − | ==Related coursework== | + | ==Related lectures== |
| − | *[[Principles of Accounting]]. | + | *[[Bookkeeping Quarter]]. |
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| − | [[Category: Accounting]][[Category: Articles]] | + | [[Category: Septem Artes Administrativi]][[Category: Articles]][[Category: Accounting]] |
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| − | [[Retailer]] is a merchant who buy goods from [[wholesaler]]s for resale to customers.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Retailer]]. A merchant who buy goods from [[wholesaler]]s for resale to customers.
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Merchandise]] is goods brought into a store for resale to customers.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Merchandise]]. Goods brought into a store for resale to customers.
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| − | *[[Sales Returns and Allowances account]] ([[SRA account]]). A contra-revenue account that records price adjustments and allowances granted on merchandise that is defective and has been returned.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Sales Returns and Allowances account]] ([[SRA account]]). A contra-revenue account that records price adjustments and allowances granted on merchandise that is defective and has been returned.
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| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Sales discount]] is amount a customer is allowed to deduct from the bill total for paying a bill during the discount period.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Sales discount]]. Amount a customer is allowed to deduct from the bill total for paying a bill during the discount period.
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| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Discount period]] is a period shorter than the credit period when a discount is available to encourage early payment of bills.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Discount period]]. A period shorter than the credit period when a discount is available to encourage early payment of bills.
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| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Credit period]] is length of time allowed for payment of goods sold on account.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Credit period]]. Length of time allowed for payment of goods sold on account.
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| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Sales Discount account]] is a contra-revenue account that records cash discounts granted to customers for payments made within a specific period of time.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Sales Discount account]]. A contra-revenue account that records cash discounts granted to customers for payments made within a specific period of time.
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| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Net sales]] is [[gross sales]] less sales returns and allowances less sales discounts.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Net sales]]. [[Gross sales]] less sales returns and allowances less sales discounts.
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| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Gross sales]] is the [[Fiscal Revenue|revenue]] earned from sale of merchandise to customers.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Gross sales]]. The [[Fiscal Revenue|revenue]] earned from sale of merchandise to customers.
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| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Sales Tax Payable account]] is an account in the general ledger that accumulates the amount of sales tax owed. It has a credit balance.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Sales Tax Payable account]]. An account in the general ledger that accumulates the amount of sales tax owed. It has a credit balance.
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Wholesaler]] is a [[merchant]] who buys goods from suppliers and manufacturers for sale to [[retailer]]s.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Wholesaler]]. A [[merchant]] who buys goods from suppliers and manufacturers for sale to [[retailer]]s.
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| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Sales invoice]] is a bill sent to customer(s) reflecting a credit sale.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Sales invoice]]. A bill sent to customer(s) reflecting a credit sale.
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Accounts receivable subsidiary ledger]] is a book or file that contains the individual records, in alphabetical order, of amounts owed by various credit customers.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Accounts receivable subsidiary ledger]]. A book or file that contains the individual records, in alphabetical order, of amounts owed by various credit customers.
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| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Subsidiary ledger]] is a [[ledger]] that contains accounts of a single type. Example: The accounts receivable subsidiary ledger records all credit customers.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Subsidiary ledger]]. A ledger that contains accounts of a single type. Example: The accounts receivable subsidiary ledger records all credit customers.
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Accounts Receivable account]] ([[Accounts Receivable controlling account]]) is the Accounts Receivable account in the general ledger, after postings are complete, shows a firm the total amount of money owed to it. This figure is broken down in the accounts receivable subsidiary ledger, where it indicates specifically who owes the money.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Accounts Receivable account]] ([[Accounts Receivable controlling account]]). The Accounts Receivable account in the general ledger, after postings are complete, shows a firm the total amount of money owed to it. This figure is broken down in the accounts receivable subsidiary ledger, where it indicates specifically who owes the money.
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| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Credit memorandum]] is a piece of paper sent by the seller to a customer who has returned merchandise previously purchased on credit. The credit memorandum indicates to the customer that the seller is reducing the amount owed by the customer.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Credit memorandum]]. A piece of paper sent by the seller to a customer who has returned merchandise previously purchased on credit. The credit memorandum indicates to the customer that the seller is reducing the amount owed by the customer.
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| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Schedule of accounts receivable]] is a list of the customers, in alphabetical order, that have an outstanding balance in the accounts receivable subsidiary ledger. This total should be equal to the balance of the [[Accounts Receivable controlling account]] in the general ledger at the end of the month.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Schedule of accounts receivable]]. A list of the customers, in alphabetical order, that have an outstanding balance in the accounts receivable subsidiary ledger. This total should be equal to the balance of the [[Accounts Receivable controlling account]] in the general ledger at the end of the month.
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| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Purchases]] is merchandise for resale. It is a cost.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Purchases]]. Merchandise for resale. It is a cost.
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| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Purchases Returns and Allowances]] is a contra-cost account in the ledger that records the amount of defective or unacceptable merchandise returned to suppliers and/or price reductions given for defective items.
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| − | | |
| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Purchases Returns and Allowances]]. A contra-cost account in the ledger that records the amount of defective or unacceptable merchandise returned to suppliers and/or price reductions given for defective items.
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| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
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| − | | |
| − | [[Purchases Discount]] is a contra-cost account in the general ledger that records discounts offered by vendors of merchandise for prompt payment of purchases by buyers.
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| − | | |
| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Purchases Discount]]. A contra-cost account in the general ledger that records discounts offered by vendors of merchandise for prompt payment of purchases by buyers.
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| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[F.O.B. destination]] is the agreement that the seller pays or is responsible for the cost of freight to purchaser's location or destination.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[F.O.B. destination]]. Seller pays or is responsible for the cost of freight to purchaser's location or destination.
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[F.O.B. shipping point]] is the agreement that the purchaser pays or is responsible for the shipping costs from seller's shipping point to purchaser's location.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[F.O.B. shipping point]]. Purchaser pays or is responsible for the shipping costs from seller's shipping point to purchaser's location.
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| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
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| − | | |
| − | [[Purchase requisition]] is a form used within a business by the requesting department asking the purchasing department of the business to buy specific goods.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Purchase requisition]]. A form used within a business by the requesting department asking the purchasing department of the business to buy specific goods.
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
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| − | | |
| − | [[Purchase order]] is a form used in business to place an order for the buying of goods from a seller.
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| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Purchase order]]. A form used in business to place an order for the buying of goods from a seller.
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| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
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| − | | |
| − | [[Purchase invoice]] is the seller's sales invoice, which is sent to the purchaser.
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| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Purchase invoice]]. The seller's sales invoice, which is sent to the purchaser.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Receiving report]] is a business form used to notify the appropriate people of the ordered goods received along with the quantities and specific condition of the goods.
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| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Receiving report]]. A business form used to notify the appropriate people of the ordered goods received along with the quantities and specific condition of the goods.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Invoice approval form]] is a form used by the accounting department in checking the invoice and finally approving it for recording and payment.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Invoice approval form]]. A form used by the accounting department in checking the invoice and finally approving it for recording and payment.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Accounts payable subsidiary ledger]] is a book or file that contains, in alphabetical order, the name of the creditor and amount owed from purchases on account.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Accounts payable subsidiary ledger]]. A book or file that contains, in alphabetical order, the name of the creditor and amount owed from purchases on account.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Debit memorandum]] is a memo issued by a purchaser to a seller, indicating that some Purchases Returns and Allowances have occurred and therefore the purchaser now owes less money on account.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Debit memorandum]]. A memo issued by a purchaser to a seller, indicating that some Purchases Returns and Allowances have occurred and therefore the purchaser now owes less money on account.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Controlling account]] is the account in the general ledger that summarizes or controls a subsidiary ledger. Example: The [[Accounts Payable account]] in the general ledger is the controlling account for the accounts payable subsidiary ledger. After postings are complete, it shows the total amount owed from purchases made on account.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Controlling account]]. The account in the general ledger that summarizes or controls a subsidiary ledger. Example: The [[Accounts Payable account]] in the general ledger is the controlling account for the accounts payable subsidiary ledger. After postings are complete, it shows the total amount owed from purchases made on account.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Perpetual inventory system]] is an inventory system of an [[organization]] that keeps a continuous (perpetual) record of each type of inventory by recording units on hand, units sold, cost of goods sold, and the current balance after each sale or purchase.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Perpetual inventory system]]. An inventory system of an [[organization]] that keeps a continuous (perpetual) record of each type of inventory by recording units on hand, units sold, cost of goods sold, and the current balance after each sale or purchase.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
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| − | | |
| − | In a [[perpetual inventory system]], [[Cost of Goods Sold]] is an account that records the [[cost of goods sold]] or the cost of merchandise inventory used to make the sale.
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| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Cost of Goods Sold]]. In a [[perpetual inventory system]], an account that records the [[cost of goods sold]] or the cost of merchandise inventory used to make the sale.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Periodic inventory system]] is an inventory system that counts inventory only at the end of the [[accounting period]]. It also calculates the cost of the unsold goods on hand by taking the cost of each unit times the number of units of each product on hand.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Periodic inventory system]]. An inventory system that counts inventory only at the end of the [[accounting period]]. It also calculates the cost of the unsold goods on hand by taking the cost of each unit times the number of units of each product on hand.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Merchandise Inventory]] is an asset and perpetual inventory system account that records purchases of merchandise. Discounts and returns are recorded in this account for the buyer.
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| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Merchandise Inventory]]. An asset and perpetual inventory system account that records purchases of merchandise. Discounts and returns are recorded in this account for the buyer.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Cost of goods sold]] is total cost of the goods which were sold to customers.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Cost of goods sold]]. Total cost of the goods which were sold to customers.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Beginning merchandise inventory]] ([[beginning inventory]]) is the cost of goods on hand in a company to begin an [[accounting period]].
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| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Beginning merchandise inventory]] ([[beginning inventory]]). The cost of goods on hand in a company to begin an [[accounting period]].
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Ending merchandise inventory]] ([[ending inventory]]) is the cost of goods that remain unsold at the end of the [[accounting period]]. It is an asset on the new [[balance sheet]].
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Ending merchandise inventory]] ([[ending inventory]]). The cost of goods that remain unsold at the end of the [[accounting period]]. It is an asset on the new [[balance sheet]].
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Freight-In]] is a cost of goods sold account that records the shipping cost to the buyer.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Freight-In]]. A cost of goods sold account that records the shipping cost to the buyer.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Gross profit]] is [[net sales]] less [[cost of goods sold]].
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Gross profit]]. Net sales less cost of goods sold.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Mortgage Payable]] is a liability account showing amount owed on a mortgage.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Mortgage Payable]]. A liability account showing amount owed on a mortgage.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Interest Expense]] is the cost of borrowing money.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Interest Expense]]. The cost of borrowing money.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Unearned Revenue]] is a liability account that records amount owed for goods or services in advance of delivery. The Cash account would record the receipt of cash.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Unearned Revenue]]. A liability account that records amount owed for goods or services in advance of delivery. The Cash account would record the receipt of cash.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Selling expenses]] are [[operating expenses]] directly related to the sale of goods excluding [[Cost of Goods Sold]].
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Selling expenses]]. Operating expenses directly related to the sale of goods excluding [[Cost of Goods Sold]].
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Administrative expenses]] ([[general expenses]]) are [[operating expenses]] such as general office expenses that are incurred indirectly in the selling of goods.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Administrative expenses]] ([[general expenses]]). Operating expenses such as general office expenses that are incurred indirectly in the selling of goods.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Other income]] is any [[Fiscal Revenue|revenue]] other than [[Fiscal Revenue|revenue]] from sales and service revenue. It appears in a separate section on the income statement. Examples: Rental Income and Storage Fees.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Other income]]. Any [[Fiscal Revenue|revenue]] other than [[Fiscal Revenue|revenue]] from sales and service revenue. It appears in a separate section on the income statement. Examples: Rental Income and Storage Fees.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Other expenses]] are nonoperating expenses that do not relate to the main operating activities of the business; they appear in a separate section on the income statement. One example given in the text is Interest Expense, interest owed on money borrowed by the company.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Other expenses]]. Nonoperating expenses that do not relate to the main operating activities of the business; they appear in a separate section on the income statement. One example given in the text is Interest Expense, interest owed on money borrowed by the company.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Classified balance sheet]] is a balance sheet that categorizes assets as current assets or plant and equipment and groups liabilities as current or long-term liabilities.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Classified balance sheet]]. A balance sheet that categorizes assets as current assets or plant and equipment and groups liabilities as current or long-term liabilities.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Current assets]] are assets that can be converted into cash or used within 1 year or the normal operating cycle of the business, whichever is longer.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Current assets]]. Assets that can be converted into cash or used within 1 year or the normal operating cycle of the business, whichever is longer.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Operating cycle]] is average time it takes to buy and sell merchandise and then collect accounts receivable.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Operating cycle]]. Average time it takes to buy and sell merchandise and then collect accounts receivable.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Plant and equipment]] are long-lived assets such as equipment, buildings, or land that are used in the production or sale of goods or services.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Plant and equipment]]. Long-lived assets such as equipment, buildings, or land that are used in the production or sale of goods or services.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Current liabilities]] are obligations that will come due within 1 year or within the operating cycle, whichever is longer.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Current liabilities]]. Obligations that will come due within 1 year or within the operating cycle, whichever is longer.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Long-term liabilities]] are obligations that are not due or payable for a long time, usually for more than a year.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Long-term liabilities]]. Obligations that are not due or payable for a long time, usually for more than a year.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Reversing entries]] is an optional bookkeeping technique in which certain adjusting entries are reversed or switched on the first day of the new [[accounting period]] so that transactions in the new period can be recorded without referring back to prior adjusting entries.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Reversing entries]]. Optional bookkeeping technique in which certain adjusting entries are reversed or switched on the first day of the new [[accounting period]] so that transactions in the new period can be recorded without referring back to prior adjusting entries.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Bad Debts Expense]] is the operating expense account that estimates the amount of credit sales that will probably not be collectible in a given [[accounting period]] when the Allowance method is used. For the direct write-off method, this account would be the actual amount written off.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Bad Debts Expense]]. The operating expense account that estimates the amount of credit sales that will probably not be collectible in a given [[accounting period]] when the Allowance method is used. For the direct write-off method, this account would be the actual amount written off.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Allowance for Doubtful Accounts]] is a contra-asset account that is subtracted from Accounts Receivable. This account accumulates the expected amount of uncollectibles as of a given date.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Allowance for Doubtful Accounts]]. A contra-asset account that is subtracted from Accounts Receivable. This account accumulates the expected amount of uncollectibles as of a given date.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Net realizable value]] is the amount ([[Accounts Receivable]] - [[Allowance for Doubtful Accounts]]) that is expected to be collected.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Net realizable value]]. The amount ([[Accounts Receivable]] - [[Allowance for Doubtful Accounts]]) that is expected to be collected.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Income statement approach]] is a method that estimates the amount of Bad Debts Expense that will result based on a percentage of net credit sales for the period. The amount of the expected bad debts is added to the existing balance of [[Allowance for Doubtful Accounts]].
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Income statement approach]]. A method that estimates the amount of Bad Debts Expense that will result based on a percentage of net credit sales for the period. The amount of the expected bad debts is added to the existing balance of [[Allowance for Doubtful Accounts]].
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Balance sheet approach]] is a method used to calculate the amount required in the Allowance for Doubtful Accounts to cover expected uncollectibles. This method is based on the Accounts Receivable amount and the aging process. The adjustment to the [[Allowance for Doubtful Accounts]] will bring the new balance of that account to the new required level.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Balance sheet approach]]. A method used to calculate the amount required in the Allowance for Doubtful Accounts to cover expected uncollectibles. This method is based on the Accounts Receivable amount and the aging process. The adjustment to the [[Allowance for Doubtful Accounts]] will bring the new balance of that account to the new required level.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Aging of Accounts Receivable]] is the procedure of classifying accounts of individual customers by age group, where age is the number of days elapsed from due date.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Aging of Accounts Receivable]]. The procedure of classifying accounts of individual customers by age group, where age is the number of days elapsed from due date.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Direct write-off method]] is the method of writing off uncollectibles when they occur and thus does not use the Allowance for Doubtful Accounts. This method does not fulfill the matching principle of accrual accounting.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Direct write-off method]]. The method of writing off uncollectibles when they occur and thus does not use the Allowance for Doubtful Accounts. This method does not fulfill the matching principle of accrual accounting.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Bad Debts Recovered]] is when an account receivable has been written off and is recovered, this account, which is in the Other Revenue category, is credited in the direct write-off method if the recovery is in a year following the write-off.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Bad Debts Recovered]]. When an account receivable has been written off and is recovered, this account, which is in the Other Revenue category, is credited in the direct write-off method if the recovery is in a year following the write-off.
| |
| − | | |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Interest]] is the cost of using money for a period of time.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Interest]]. The cost of using money for a period of time.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Promissory note]] is a formal written promise by a borrower to pay a certain sum at a fixed future date.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Promissory note]]. A formal written promise by a borrower to pay a certain sum at a fixed future date.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Principal]] is the face amount of the note.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Principal]]. The face amount of the note.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Payee]] is one to whom a note is payable.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Payee]]. One to whom a note is payable.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Maturity date]] is due date of the promissory note.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Maturity date]]. Due date of the promissory note.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Maker]] is one promising to pay a note.
| |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Maker]]. One promising to pay a note.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Note payable]] is a promissory note from the maker's point of view.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Note payable]]. A promissory note from the maker's point of view.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Note receivable]] is a promissory note from the payee's point of view.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Note receivable]]. A promissory note from the payee's point of view.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Dishonored note]] is a note that was not paid at maturity by the maker.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Dishonored note]]. A note that was not paid at maturity by the maker.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Default]] is failure of maker to pay the maturity value of a note when due.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Default]]. Failure of maker to pay the maturity value of a note when due.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Discounting a note]] is the process or act of transferring the note to a bank before the maturity date.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Discounting a note]]. The process or act of transferring the note to a bank before the maturity date.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Maturity value]] is the amount of the note that is due on the date of maturity (Principal + Interest). *[[Discount period]]. The amount of time the bank holds a note that was discounted until the maturity date.
| |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Maturity value]]. The amount of the note that is due on the date of maturity (Principal + Interest). *[[Discount period]]. The amount of time the bank holds a note that was discounted until the maturity date.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Bank discount]] is what the bank charges to hold a note until maturity (Maturity Value - Proceeds).
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Bank discount]]. What the bank charges to hold a note until maturity (Maturity Value - Proceeds).
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Proceeds]]. Maturity value of note less [[bank discount]].
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Proceeds]]. Maturity value of note less [[bank discount]].
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Contingent liability]] is liability on the part of one who discounts a note if the maker of the note defaults at maturity date.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Contingent liability]]. Liability on the part of one who discounts a note if the maker of the note defaults at maturity date.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Discount on Notes Payable]] is the amount of interest deducted in advance by the lender. This account reduces [[Notes Payable]].
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Discount on Notes Payable]]. The amount of interest deducted in advance by the lender. This account reduces [[Notes Payable]].
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Effective interest rate]] is the true rate of simple interest.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Effective interest rate]]. The true rate of simple interest.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Specific invoice method]] is valuing of inventory where each item is identified with a specific invoice.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Specific invoice method]]. Valuing of inventory where each item is identified with a specific invoice.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[FIFO]] ([[first-in, first-out method]]) is valuing of inventory assuming that the company sells the first goods received in the store.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[FIFO]] ([[first-in, first-out method]]). Valuing of inventory assuming that the company sells the first goods received in the store.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[LIFO]] ([[last-in, first-out method]]) is valuing of inventory with the assumption the last goods received in the store are the first to be sold.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[LIFO]] ([[last-in, first-out method]]). Valuing of inventory with the assumption the last goods received in the store are the first to be sold.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Weighted-average method]]. Valuing of inventory where each item is assigned the same unit cost. This unit cost is found by dividing the cost of goods available for sale by the total number of units for sale.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Weighted-average method]]. Valuing of inventory where each item is assigned the same unit cost. This unit cost is found by dividing the cost of goods available for sale by the total number of units for sale.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Consistency]] is the accounting principle that requires companies to follow the same accounting methods or procedures from period to period.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Consistency]]. The accounting principle that requires companies to follow the same accounting methods or procedures from period to period.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Full disclosure principle]] is the accounting principle that requires companies to fully disclose on their financial reports changes in accounting procedures and methods along with effects of the change as well as justification for change.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Full disclosure principle]]. The accounting principle that requires companies to fully disclose on their financial reports changes in accounting procedures and methods along with effects of the change as well as justification for change.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Consignment]] is aales of goods through an agent who has possession but not ownership. Consignor The one who consigns merchandise to the consignee.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Consignment]]. Sales of goods through an agent who has possession but not ownership. Consignor The one who consigns merchandise to the consignee.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Consignee]] is a [[legal entity]] to which merchandise is consigned but who doesn't have ownership.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Consignee]]. A company or person to whom merchandise is consigned but who doesn't have ownership.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Retail method]] is a method used to determine the value of the ending inventory using a cost-toretail ratio. Often used for interim financial reports. *[[Gross profit method]]. A method used to determine the value of the ending inventory using a predetermined gross profit rate. This method can be used to determine the value of ending inventory if a loss from fire occurs.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Retail method]]. A method used to determine the value of the ending inventory using a cost-toretail ratio. Often used for interim financial reports. *[[Gross profit method]]. A method used to determine the value of the ending inventory using a predetermined gross profit rate. This method can be used to determine the value of ending inventory if a loss from fire occurs.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Intangible assets]] are assets having no physical substance (such as patents or franchises).
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Intangible assets]]. Assets having no physical substance (such as patents or franchises).
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Land Improvements]] is an asset account that records improvements made to land; such improvements have a limited life and are subject to depreciation (examples are a driveway or fences).
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Land Improvements]]. An asset account that records improvements made to land; such improvements have a limited life and are subject to depreciation (examples are a driveway or fences).
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Residual value]] ([[salvage value]]) is the amount of the asset's cost that will be recovered when the asset is sold, traded in, or scrapped.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Residual value]] ([[salvage value]]). The amount of the asset's cost that will be recovered when the asset is sold, traded in, or scrapped.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Straight-line method]] is method that allocates an equal amount of depreciation over an asset's period of usefulness.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Straight-line method]]. Method that allocates an equal amount of depreciation over an asset's period of usefulness.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | At the time an asset is acquired, [[useful life]] is an estimate is made of its usefulness in terms of years, output, and so forth.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Useful life]]. At the time an asset is acquired, an estimate is made of its usefulness in terms of years, output, and so forth.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Units-of-production method]] is a depreciation method that is based on usage and not on time. An example of units of production is the numbers of shoes a machine could produce in its expected useful life.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Units-of-production method]]. A depreciation method that is based on usage and not on time. An example of units of production is the numbers of shoes a machine could produce in its expected useful life.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Double declining-balance method]] is an accelerated depreciation method that uses twice the straight-line rate multiplied by the [[book value]] of asset to calculate depreciation expense. Residual value is not subtracted from the cost of an asset in this calculation.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Double declining-balance method]]. An accelerated depreciation method that uses twice the straight-line rate multiplied by the [[book value]] of asset to calculate depreciation expense. Residual value is not subtracted from the cost of an asset in this calculation.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Accelerated depreciation method]] is the method that assures that more depreciation taken in the early years of an asset's life, decreasing amounts in later years.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Accelerated depreciation method]]. More depreciation taken in the early years of an asset's life, decreasing amounts in later years.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Capital expenditure]] is original cost of an asset as well as additions or enlargements, extraordinary repairs, and betterments.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Capital expenditure]]. Original cost of an asset as well as additions or enlargements, extraordinary repairs, and betterments.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Additions]] or [[enlargements]] are major changes or improvements that increase the value of an asset (such as adding a new wing to a school).
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Additions]] or [[enlargements]]. Major changes or improvements that increase the value of an asset (such as adding a new wing to a school).
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Extraordinary repair]] is infrequent expenditures that extend an asset's life (such as a new engine in a car).
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Extraordinary repair]]. Infrequent expenditures that extend an asset's life (such as a new engine in a car).
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Betterments]] are improvements that increase the efficiency of an asset by adding accessories or replacing parts with more effective and/or powerful ones.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Betterments]]. Improvements that increase the efficiency of an asset by adding accessories or replacing parts with more effective and/or powerful ones.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Revenue expenditure]] is payments made for ordinary maintenance of an asset or unnecessary or unreasonable situations.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Revenue expenditure]]. Payments made for ordinary maintenance of an asset or unnecessary or unreasonable situations.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Trade-in allowance]] is a value received when one asset is traded in on the purchase of another asset. For example, when you buy a new car you may trade in your old car for an amount of money that is applied toward the purchase of the new car.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Trade-in allowance]]. A value received when one asset is traded in on the purchase of another asset. For example, when you buy a new car you may trade in your old car for an amount of money that is applied toward the purchase of the new car.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Income tax method]] is when plant assets are exchanged, tax law says the gain or loss must be absorbed into the cost of the new asset.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Income tax method]]. When plant assets are exchanged, tax law says the gain or loss must be absorbed into the cost of the new asset.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Depletion]] is amount of natural resources that has been exhausted by mining, pumping, and so forth for a period of time.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Depletion]]. Amount of natural resources that has been exhausted by mining, pumping, and so forth for a period of time.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Amortize]] is to charge a portion of an expenditure over a fixed number of years. Those assets with indefinite lives are not subject to amortization. *[[Amortization expense]]. An operating expense on the income statement relating to intangible assets. *[[Patent]]. An exclusive right to sell or produce one's discovery or invention. A patent is good for 20 years.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Amortize]]. To charge a portion of an expenditure over a fixed number of years. Those assets with indefinite lives are not subject to amortization. *[[Amortization expense]]. An operating expense on the income statement relating to intangible assets. *[[Patent]]. An exclusive right to sell or produce one's discovery or invention. A patent is good for 20 years.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Copyright]] is the exclusive right that is granted by the federal government to sell and reproduce literary, musical, or artistic works for a period of time.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Copyright]]. The exclusive right that is granted by the federal government to sell and reproduce literary, musical, or artistic works for a period of time.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Franchise]] is a right granted by a business or government to produce or sell goods in a specific geographic region. Examples are Burger King and Holiday Inn.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Franchise]]. A right granted by a business or government to produce or sell goods in a specific geographic region. Examples are Burger King and Holiday Inn.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Goodwill]] is when a business is purchased, the difference between the price paid and the fair value of the net assets is goodwill. Goodwill may depend on brand names, business location, service, or other elements; it is a valuable asset that plays an important part in the expected rate of future earnings of a business.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Goodwill]]. When a business is purchased, the difference between the price paid and the fair value of the net assets is goodwill. Goodwill may depend on brand names, business location, service, or other elements; it is a valuable asset that plays an important part in the expected rate of future earnings of a business.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Impairment]] is value of an intangible asset that decreases and is written off.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Impairment]]. Value of an intangible asset that decreases and is written off.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Unlimited liability]] is when partners may be personally liable for debts of the partnership.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Unlimited liability]]. Partners may be personally liable for debts of the partnership.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Deficit]] is amount by which net income falls short of salary and interest allowances. Also an abnormal, or debit, balance in a partner's capital account.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Deficit]]. Amount by which net income falls short of salary and interest allowances. Also an abnormal, or debit, balance in a partner's capital account.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Liquidation]] is the process that occurs when a business is terminated, the assets are sold, and liabilities and partners are paid off.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Liquidation]]. Occurs when a business is terminated, the assets are sold, and liabilities and partners are paid off.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Realization]] is the conversion of noncash assets into cash in the liquidation process.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Realization]]. The conversion of noncash assets into cash in the liquidation process.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Statement of cash flows]] is a financial report that provides a detailed breakdown of the specific increases and decreases in cash during an [[accounting period]]. It helps readers of the statement evaluate past performance as well as predict future cash flows of the business.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Statement of cash flows]]. A financial report that provides a detailed breakdown of the specific increases and decreases in cash during an [[accounting period]]. It helps readers of the statement evaluate past performance as well as predict future cash flows of the business.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Comparative balance sheet]] is a balance sheet listing financial condition for 2 or more years in a side-by-side manner. This format allows the reader to make quick comparisons between the two balance sheet dates. Current and past financial reports covering two or more successive periods that place data in single columns side by side.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Comparative balance sheet]]. Current and past financial reports covering two or more successive periods that place data in single columns side by side. Current and past financial reports covering two or more successive periods that place data in single columns side by side.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Operating activity]] is the activity most closely related to conducting the business for which the enterprise was established. Activities such as selling merchandise and services to customers and paying salaries and other expenses needed to continue earning the operating revenue are classified as operating activities.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Operating activity]]. Those activities most closely related to conducting the business for which the enterprise was established. Activities such as selling merchandise and services to customers and paying salaries and other expenses needed to continue earning the operating revenue are classified as operating activities.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Cash inflow]] is any increase in cash is called a cash inflow or a source of cash. When listing the total for a major section of the statement of cash flows, if cash is increased, the figure is often described as "cash provided" by operating activities (or by investing activities or financing activities).
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Cash inflow]]. Any increase in cash is called a cash inflow or a source of cash. When listing the total for a major section of the statement of cash flows, if cash is increased, the figure is often described as "cash provided" by operating activities (or by investing activities or financing activities).
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Cash outflow]] is a decrease in cash is called a cash outflow or a use of cash. When listing a total for a major section of the statement of cash flows, if cash has decreased, the figure is often described as "cash used" in operating activities (or in investing activities or financing activities). *[[Investing activities]]. Activities such as purchase and sale of plant and equipment and placing excess cash in stocks, bonds, and notes of other companies.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Cash outflow]]. A decrease in cash is called a cash outflow or a use of cash. When listing a total for a major section of the statement of cash flows, if cash has decreased, the figure is often described as "cash used" in operating activities (or in investing activities or financing activities). *[[Investing activities]]. Activities such as purchase and sale of plant and equipment and placing excess cash in stocks, bonds, and notes of other companies.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Financing activity]] is any activity relating to raising money from investors and creditors such as the issuance of stocks, bonds, and long-term notes; also, repurchase of outstanding stock and retiring bonds and notes as well as paying dividends.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Financing activities]]. Activities relating to raising money from investors and creditors such as the issuance of stocks, bonds, and long-term notes; also, repurchase of outstanding stock and retiring bonds and notes as well as paying dividends.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Noncash investing and financing activity]] is a transaction such as the issuance of stock in exchange for land would be listed in a footnote or a separate schedule to the statement of cash flows, because such transactions would not be reported separately on any other financial statement.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Noncash investing and financing activities]]. Transactions such as the issuance of stock in exchange for land would be listed in a footnote or a separate schedule to the statement of cash flows, because such transactions would not be reported separately on any other financial statement.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Indirect method]] is one of two methods of preparing the net cash flow from the operating activities section of the statement of cash flows. Involves converting the [[accrual basis]] net income figure from the income statement to the net cash flows from operating activities.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Indirect method]]. One of two methods of preparing the net cash flow from the operating activities section of the statement of cash flows. Involves converting the [[accrual basis]] net income figure from the income statement to the net cash flows from operating activities.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Direct method]] is one of two methods of preparing the cash flow from operating activities section of the statement of cash flows. Each of the major areas of sources and uses of cash for operations is detailed separately.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Direct method]]. One of two methods of preparing the cash flow from operating activities section of the statement of cash flows. Each of the major areas of sources and uses of cash for operations is detailed separately.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Horizontal analysis]] is amounts of items compared on the same line of comparative financial reports. Horizontal analysis can also be in the form of a trend analysis.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Horizontal analysis]]. Amounts of items compared on the same line of comparative financial reports. Horizontal analysis can also be in the form of a trend analysis.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Vertical analysis]] is comparing items in a financial report by expressing each item as a percentage of a certain base total.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Vertical analysis]]. Comparing items in a financial report by expressing each item as a percentage of a certain base total.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Common-size statement]] is a comparative report in which each item is expressed as a percentage of a base amount without dollar amounts.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Common-size statements]]. Comparative reports in which each item is expressed as a percentage of a base amount without dollar amounts.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Trend analysis]] is a type of horizontal analysis that deals with percentage changes in items on the financial reports for several years. This analysis uses a base year to calculate the percentage change of each item.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Trend analysis]]. A type of horizontal analysis that deals with percentage changes in items on the financial reports for several years. This analysis uses a base year to calculate the percentage change of each item.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]] | |
| − | | |
| − | [[Ratio]] is a relationship of two quantities or numbers, one divided by the other.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Ratio]]. A relationship of two quantities or numbers, one divided by the other.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Ratio analysis]] is an examination of the relationship between two numbers or sets of numbers on financial reports. Analyses of ratios, especially over time, can give a fairly clear picture of how well a company conducts its business.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Ratio analysis]]. An examination of the relationship between two numbers or sets of numbers on financial reports. Analyses of ratios, especially over time, can give a fairly clear picture of how well a company conducts its business.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Liquidity ratio]] is the two ratios—current ratio and acid test ratio—which measure a company’s ability to pay off short-term debts.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Liquidity ratio]]. The two ratios—current ratio and acid test ratio—which measure a company’s ability to pay off short-term debts.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Asset management ratio]] is those ratios—accounts receivable turnover, average collection period, inventory turnover, and asset turnover—which measure how effectively a company uses its assets.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Asset management ratio]]. Those ratios—accounts receivable turnover, average collection period, inventory turnover, and asset turnover—which measure how effectively a company uses its assets.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Debt management ratio]] is those ratios—debt to total assets, debt to stockholders' equity, and times interest earned—which measure a company's mix of debt and equity financing.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Debt management ratio]]. Those ratios—debt to total assets, debt to stockholders' equity, and times interest earned—which measure a company's mix of debt and equity financing.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Profitability ratio]] is those ratios—gross profit rate, return on sales, return on total assets, and return on common stockholders' equity—which measure a company's ability to earn a profit.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Profitability ratio]]. Those ratios—gross profit rate, return on sales, return on total assets, and return on common stockholders' equity—which measure a company's ability to earn a profit.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Current ratio]] is a liquidity ratio; current assets are divided by current liabilities to indicate a company's ability to pay its short-term debt. This ratio does not provide as much certainty as the acid test ratio.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Current ratio]]. A liquidity ratio; current assets are divided by current liabilities to indicate a company's ability to pay its short-term debt. This ratio does not provide as much certainty as the acid test ratio.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Acid test ratio]] is a liquidity ratio; those assets that are most easily converted to cash are divided by current liabilities to indicate ability to pay off short-term debt. Also called quick ratio.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Acid test ratio]]. A liquidity ratio; those assets that are most easily converted to cash are divided by current liabilities to indicate ability to pay off short-term debt. Also called quick ratio.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Quick asset]] is those assets — mainly cash, accounts receivable, and notes receivable—that can be easily turned into cash.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Quick asset]]. Those assets — mainly cash, accounts receivable, and notes receivable—that can be easily turned into cash.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Accounts receivable turnover ratio]] is a ratio that indicates the number of times accounts receivable are converted to cash within a given period and the effectiveness of a company's credit policy.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Accounts receivable turnover ratio]]. A ratio that indicates the number of times accounts receivable are converted to cash within a given period and the effectiveness of a company's credit policy.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Average collection period]] is a ratio that shows how quickly moneys owed are received from customers and thereby measures how effectively a company collects its accounts receivable.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Average collection period]]. A ratio that shows how quickly moneys owed are received from customers and thereby measures how effectively a company collects its accounts receivable.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Inventory turnover ratio]] is an asset management ratio that indicates how quickly inventory moves off the shelf and therefore how well a company sells its product.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Inventory turnover ratio]]. An asset management ratio that indicates how quickly inventory moves off the shelf and therefore how well a company sells its product.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Asset turnover ratio]] is a ratio that indicates how efficiently a company uses its assets to generate sales and thus helps measure the overall efficiency of the company.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Asset turnover ratio]]. A ratio that indicates how efficiently a company uses its assets to generate sales and thus helps measure the overall efficiency of the company.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Debt to total assets ratio]] is a ratio that shows how much of a company's assets are financed by creditors.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Debt to total assets ratio]]. A ratio that shows how much of a company's assets are financed by creditors.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Debt to stockholders' equity ratio]] is a ratio in which total liabilities are divided by the amount of stock that is owned to measure the risk creditors run in comparison with stockholders.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Debt to stockholders' equity ratio]]. A ratio in which total liabilities are divided by the amount of stock that is owned to measure the risk creditors run in comparison with stockholders.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Times interest earned ratio]] is a debt management ratio indicating the degree of risk to lenders that a company will default on its interest payments. Also called [[interest coverage ratio]].
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Times interest earned ratio]]. A debt management ratio indicating the degree of risk to lenders that a company will default on its interest payments. Also called [[interest coverage ratio]].
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Gross profit rate]] is a profitability ratio that indicates how well net sales cover administrative and selling expenses.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Gross profit rate]]. A profitability ratio that indicates how well net sales cover administrative and selling expenses.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Return on sales ratio]] is a profitability ratio that shows the relationship of net income before taxes to net sales and thereby the effectiveness of a company's pricing policy.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Return on sales ratio]]. A profitability ratio that shows the relationship of net income before taxes to net sales and thereby the effectiveness of a company's pricing policy.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Return on total assets ratio]] is a profitability ratio that measures how wisely a company has invested in and managed its assets. This ratio can be arrived at in two ways: (1) net income before interest and taxes divided by total assets and (2) return on sales multiplied by asset turnover.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Return on total assets ratio]]. A profitability ratio that measures how wisely a company has invested in and managed its assets. This ratio can be arrived at in two ways: (1) net income before interest and taxes divided by total assets and (2) return on sales multiplied by asset turnover.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Voucher]] is a written authorization form containing data about a transaction along with proper authorizations for payment, account distributions, and so forth.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Voucher]]. A written authorization form containing data about a transaction along with proper authorizations for payment, account distributions, and so forth.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Voucher system]] is an internal control system designed to control a company's cash payments.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Voucher system]]. An internal control system designed to control a company's cash payments.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Voucher register]] is a special journal replacing the purchases journal; it records prenumbered vouchers at the time the liabilities are incurred.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Voucher register]]. A special journal replacing the purchases journal; it records prenumbered vouchers at the time the liabilities are incurred.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Vouchers Payable]] is a liability account in the general ledger that represents the controlling account for the sum of individual vouchers.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Vouchers Payable]]. A liability account in the general ledger that represents the controlling account for the sum of individual vouchers.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Unpaid voucher file]] ([[tickler file]]) is the file containing unpaid vouchers arranged by due dates to take advantage of cash discounts.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Unpaid voucher file]] ([[tickler file]]). The file containing unpaid vouchers arranged by due dates to take advantage of cash discounts.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Check register]] is a special journal that replaces the cash payments journal in recording payments of vouchers.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Check register]]. A special journal that replaces the cash payments journal in recording payments of vouchers.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Paid voucher file]] is the file that holds paid vouchers filed either in sequential order by voucher number or alphabetically by creditor's name.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Paid voucher file]]. Holds paid vouchers filed either in sequential order by voucher number or alphabetically by creditor's name.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Profit center]] is a unit or department that incurs costs and generates [[Fiscal Revenue|revenue]]s.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Profit center]]. A unit or department that incurs costs and generates [[Fiscal Revenue|revenue]]s.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Cost center]] is a unit or department that incurs costs but does not generate [[Fiscal Revenue|revenue]]s.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Cost center]]. A unit or department that incurs costs but does not generate [[Fiscal Revenue|revenue]]s.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Direct expenses]] are expenses that can be traced directly to a specific department.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Direct expenses]]. Expenses that can be traced directly to a specific department.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Indirect expenses]] are expenses that cannot be traced directly to one department.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Indirect expenses]]. Expenses that cannot be traced directly to one department.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Contribution margin]] is a department's net profit, used to cover indirect expenses.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Contribution margin]]. A department's net profit, used to cover indirect expenses.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Raw material]] is material that is to be processed into a finished product or that changes the quality or characteristics of the product.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Raw material]]. Material that is to be processed into a finished product or that changes the quality or characteristics of the product.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Direct labor]] is the wages of those persons whose efforts directly affect the quality or other characteristics of the products manufactured.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Direct labor]]. The wages of those persons whose efforts directly affect the quality or other characteristics of the products manufactured.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Manufacturing overhead]] is all the manufacturing costs except raw material and direct labor.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Manufacturing overhead]]. All the manufacturing costs except raw material and direct labor.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Receiving report]] is a document prepared by the receiving department to evidence the receipt of material or supplies that had been ordered.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Receiving report]]. A document prepared by the receiving department to evidence the receipt of material or supplies that had been ordered.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Material requisition]] is a document used to order material or supplies from the storeroom that provides the basis for charging material into production.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Material requisition]]. A document used to order material or supplies from the storeroom that provides the basis for charging material into production.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Clock card]] is a card used by employees when clocking in and out of the factory; it becomes the basis for the payroll.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Clock card]]. A card used by employees when clocking in and out of the factory; it becomes the basis for the payroll.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Lot ticket]] is a document prepared to show the movement of materials or products between departments. Also called [[move ticket]].
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Lot ticket]]. A document prepared to show the movement of materials or products between departments. Also called [[move ticket]].
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Labor distribution report]] is a report issued by the payroll department to categorize all the types of labor incurred during the week.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Labor distribution report]]. A report issued by the payroll department to categorize all the types of labor incurred during the week.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Bill of lading]] is a formal document issued to the carrier of the finished product. It is the basis for charging the cost of goods sold.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Bill of lading]]. A formal document issued to the carrier of the finished product. It is the basis for charging the cost of goods sold.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Principles of Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Return on common stockholders' equity ratio]] is a profitability ratio that indicates how well a company is managing debt financing to earn a profit for holders of common stock.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Return on common stockholders' equity ratio]]. A profitability ratio that indicates how well a company is managing debt financing to earn a profit for holders of common stock.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Corporation]] is a business organization that is both a legal and accounting entity.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Corporation]]. Business organization that is both a legal and accounting entity.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Incorporator]] is a person responsible for getting the corporation formed.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Incorporator]]. A person responsible for getting the corporation formed.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Articles of incorporation]] is the document submitted by incorporators when applying for a charter.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Articles of incorporation]]. Document submitted by incorporators when applying for a charter.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Charter]] is a document issued to a corporation by the state that includes certificate of incorporation along with articles of incorporation.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Charter]]. Document issued to a corporation by the state that includes certificate of incorporation along with articles of incorporation.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Certificate of incorporation]] is a document granted by the state authorizing the creation of a corporation.
| |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Certificate of incorporation]]. Document granted by the state authorizing the creation of a corporation.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Stockholder]] is an owner of the stock of the corporation.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Stockholder]]. An owner of the stock of the corporation.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Corporate director]] is an officer elected by stockholders to represent the company and establish policies for the company.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Corporate director]]. An officer elected by stockholders to represent the company and establish policies for the company.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Minute book]] is the book that records meetings of the board of directors or stockholders.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Minute book]]. Book that records meetings of the board of directors or stockholders.
| |
| − | | |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Limited liability]] is freedom of stockholders from personal liability for the debts of the corporation.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Limited liability]]. Freedom of stockholders from personal liability for the debts of the corporation.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Stock certificate]] is a formal document issued to investors in a corporation that shows the number of shares purchased.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Stock certificate]]. Formal document issued to investors in a corporation that shows the number of shares purchased.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Paid-In Capital]] is a section of stockholders' equity representing what stockholders have invested into the corporation.
| |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Paid-In Capital]]. Section of stockholders' equity representing what stockholders have invested into the corporation.
| |
| − | | |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Retained Earnings]] are accumulated profits of a corporation that have been kept in the business and not paid out as dividends. [[Retained Earnings]] is part of stockholders' equity.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Retained Earnings]]. Accumulated profits of a corporation that have been kept in the business and not paid out as dividends. [[Retained Earnings]] is part of stockholders' equity.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Capital stock]] is classes of stock that represent the fractional elements of ownership of a corporation.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Capital stock]]. Classes of stock that represent the fractional elements of ownership of a corporation.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Authorized capital stock]] is the number of shares of capital stock (common and preferred) that a corporation can sell.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Authorized capital stock]]. The number of shares of capital stock (common and preferred) that a corporation can sell.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Issued capital stock]] is stock that the corporation issues for assets or services contributed by the stockholders.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Issued capital stock]]. Stock that the corporation issues for assets or services contributed by the stockholders.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Outstanding capital stock]] is stock that is held and owned by stockholders. Common stock Part of paid-in capital representing the basic ownership equity of the corporation. If the corporation has only one class of stock, it will be common stock.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Outstanding capital stock]]. Stock that is held and owned by stockholders. Common stock Part of paid-in capital representing the basic ownership equity of the corporation. If the corporation has only one class of stock, it will be common stock.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Preemptive right]] is the right of the stockholder to purchase additional shares of stock to maintain a proportionate interest when the corporation issues additional stock.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Preemptive right]]. The right of the stockholder to purchase additional shares of stock to maintain a proportionate interest when the corporation issues additional stock.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Preferred stock]] is class of capital stock that has preference to a corporation's profits and assets.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Preferred stock]]. Class of capital stock that has preference to a corporation's profits and assets.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Dividend]] is cash, other assets, or shares of stock that a corporation issues to the stockholders.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Dividend]]. Cash, other assets, or shares of stock that a corporation issues to the stockholders.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Cumulative preferred stock]] is stock that entitles its holders to any undeclared dividends that have accumulated before common stockholders receive their dividends.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Cumulative preferred stock]]. Stock that entitles its holders to any undeclared dividends that have accumulated before common stockholders receive their dividends.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Dividends in arrears]] are the dividends owed to cumulative preferred stockholders that must be paid before common stockholders can receive their dividends.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Dividends in arrears]]. Dividends owed to cumulative preferred stockholders that must be paid before common stockholders can receive their dividends.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Noncumulative preferred stock]] is preferred stock that does not entitle its holders to a dividend for any year in which a dividend is not declared. *[[Nonparticipating preferred stock]]. Preferred stock that entitles its holders only to a certain percentage of dividend, the remainder going to holders of common stock.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Noncumulative preferred stock]]. Preferred stock that does not entitle its holders to a dividend for any year in which a dividend is not declared. *[[Nonparticipating preferred stock]]. Preferred stock that entitles its holders only to a certain percentage of dividend, the remainder going to holders of common stock.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Participating preferred stock]] is stock that entitles its holders not only to a fixed dividend but also to an opportunity to share in additional dividends with common stockholders.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Participating preferred stock]]. Stock that entitles its holders not only to a fixed dividend but also to an opportunity to share in additional dividends with common stockholders.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Par value]] is an arbitrary value that is placed on each share of stock. [[Par value]] represents legal capital and not market value.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Par value]]. An arbitrary value that is placed on each share of stock. [[Par value]] represents legal capital and not market value.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Legal capital]] is minimum amount of capital that a corporation must leave in the company (cannot be withdrawn by stockholders) for the protection of the creditors.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Legal capital]]. Minimum amount of capital that a corporation must leave in the company (cannot be withdrawn by stockholders) for the protection of the creditors.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[No-par stock]] is stock with no par value. A stated value could be placed on it.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[No-par stock]]. Stock with no par value. A stated value could be placed on it.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Stated value]] is arbitrary value placed by the board of directors on each share of no-par stock to fulfill legal capital requirements.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Stated value]]. Arbitrary value placed by the board of directors on each share of no-par stock to fulfill legal capital requirements.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Premium]] is a term that records the sale of stock at more than par value. In this book we use the account Paid-In Capital in Excess of Par Value to record the premium received.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Premium]]. A term that records the sale of stock at more than par value. In this book we use the account Paid-In Capital in Excess of Par Value to record the premium received.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Common Paid-In Capital in Excess of Par Value]] is the difference between what stockholders invest and par value. This amount is not credited to the Common Stock account.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Common Paid-In Capital in Excess of Par Value]]. Difference between what stockholders invest and par value. This amount is not credited to the Common Stock account.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Discount on stock]] is the difference between the par value of the stock and an amount less than the par value that the stockholders have contributed. Discounts do not happen often.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Discount on stock]]. The difference between the par value of the stock and an amount less than the par value that the stockholders have contributed. Discounts do not happen often.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Common Paid-In Capital in Excess of Stated Value]] is the difference between what stockholders invest and the stated value placed on stock by the board of directors. This amount is not credited to the Common Stock account.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Common Paid-In Capital in Excess of Stated Value]]. Difference between what stockholders invest and the stated value placed on stock by the board of directors. This amount is not credited to the Common Stock account.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Organization cost]] is an intangible asset that records the initial cost of forming the corporation, such as legal and incorporating fees. Today, it is being expensed.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Organization cost]]. An intangible asset that records the initial cost of forming the corporation, such as legal and incorporating fees. Today, it is being expensed.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Stock subscription]] is a contractual agreement to buy a certain number of shares of stock from a corporation at a specific price.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Stock subscription]]. A contractual agreement to buy a certain number of shares of stock from a corporation at a specific price.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Common Stock Subscribed]] is a temporary stockholders’ equity account that records at par value stock that has been subscribed to but not fully paid for.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Common Stock Subscribed]]. Temporary stockholders’ equity account that records at par value stock that has been subscribed to but not fully paid for.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Common Stock Subscriptions Receivable]] is current asset on balance sheet that represents amount due on stock subscriptions.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Common Stock Subscriptions Receivable]]. Current asset on balance sheet that represents amount due on stock subscriptions.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Source-of-capital approach]] is method of preparing Paid-In Capital by listing classes of stockholder sources of capital. Legal capital approach Method of preparing Paid-In Capital by listing the legal section first.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Source-of-capital approach]]. Method of preparing Paid-In Capital by listing classes of stockholder sources of capital. Legal capital approach Method of preparing Paid-In Capital by listing the legal section first.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Redemption value]] is the price per share a corporation pays to redeem or retire capital stock.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Redemption value]]. The price per share a corporation pays to redeem or retire capital stock.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Market value]] is the price that a buyer pays to purchase shares of capital stock in the open market. Of course, for every buyer there is a seller.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Market value]]. The price that a buyer pays to purchase shares of capital stock in the open market. Of course, for every buyer there is a seller.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Book value per share]] is amount of net assets that a stockholder would receive on a per share basis, assuming no gain or loss on the sale of the assets.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Book value per share]]. Amount of net assets that a stockholder would receive on a per share basis, assuming no gain or loss on the sale of the assets.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Dividend]] is cash or other assets that a corporation distributes as earnings to stockholders.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Dividend]]. Cash or other assets that a corporation distributes as earnings to stockholders.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Date of declaration]] is the date upon which the board of directors of a corporation formally declares a dividend.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Date of declaration]]. The date upon which the board of directors of a corporation formally declares a dividend.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Dividend]] is payable liability showing amount of cash dividend owed.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Dividend]]. Payable Liability showing amount of cash dividend owed.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Date of record]] is the date of ownership that determines which stockholders will receive the dividend.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Date of record]]. The date of ownership that determines which stockholders will receive the dividend.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Date of payment]] is the date the dividend is paid. *[[Cash dividend]]. Dividend that is paid in cash.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Date of payment]]. The date the dividend is paid. *[[Cash dividend]]. Dividend that is paid in cash.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Stock dividend]] is stock that is distributed to stockholders instead of cash or other assets.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Stock dividend]]. Stock that is distributed to stockholders instead of cash or other assets.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Common Stock Dividend]] is distributable Stockholders' equity account that accumulates a stock dividend that has been declared but not yet issued and distributed.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Common Stock Dividend]]. Distributable Stockholders' equity account that accumulates a stock dividend that has been declared but not yet issued and distributed.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Stock split]] is issuing of additional shares of stock to stockholders; total par or stated value remains the same.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Stock split]]. Issuing of additional shares of stock to stockholders; total par or stated value remains the same.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Treasury stock]] is stock that has been issued but has been bought back by the corporation or received as a gift.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Treasury stock]]. Stock that has been issued but has been bought back by the corporation or received as a gift.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Paid-In Capital from Treasury Stock]] is stockholders' equity account that records amounts more or less than par value of treasury stock sold. The balance of this account can never be negative.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Paid-In Capital from Treasury Stock]]. Stockholders' equity account that records amounts more or less than par value of treasury stock sold. The balance of this account can never be negative.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Appropriated retained earnings]] ([[restricted retained earnings]]) is that portion of Retained Earnings that is not available for dividends.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Appropriated retained earnings]] ([[restricted retained earnings]]). That portion of Retained Earnings that is not available for dividends.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Statement of retained earnings]] is a financial report that reveals the changes in retained earnings for a particular period of time.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Statement of retained earnings]]. A financial report that reveals the changes in retained earnings for a particular period of time.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Prior period adjustment]] is correction made in the current year of a mistake made in previous years. The adjustment is updated on the statement of retained earnings.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Prior period adjustment]]. Correction made in the current year of a mistake made in previous years. The adjustment is updated on the statement of retained earnings.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Bond]] is an interest-bearing note payable usually in $1,000 denominations issued by a corporation to a large group of lenders.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Bond]]. An interest-bearing note payable usually in $1,000 denominations issued by a corporation to a large group of lenders.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Bond certificate]] is a piece of paper held by a bondholder showing evidence of a bond issued by a corporation to be payable on a specified date for a specific sum to the order of the person named in the bond certificate or to the bearer.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Bond certificate]]. A piece of paper held by a bondholder showing evidence of a bond issued by a corporation to be payable on a specified date for a specific sum to the order of the person named in the bond certificate or to the bearer.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Face value]] is the amount the corporation must repay to the bondholder at the maturity date.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Face value]]. The amount the corporation must repay to the bondholder at the maturity date.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Contract rate]] is rate of interest (based on face value) stated on bond certificate and bond indenture.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Contract rate]]. Rate of interest (based on face value) stated on bond certificate and bond indenture.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Bond indenture]] is a contract that spells out the provisions of the contract between the corporation and bondholder.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Bond indenture]]. A contract that spells out the provisions of the contract between the corporation and bondholder.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Trustee]] is an organization (usually a bank) or person who monitors a bond indenture for the protection of bondholders.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Trustee]]. Organization (usually a bank) or person who monitors a bond indenture for the protection of bondholders.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Secured bond]] is bond issued by a corporation that pledges specific assets as security to meet the terms of the bond agreement.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Secured bond]]. Bond issued by a corporation that pledges specific assets as security to meet the terms of the bond agreement.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Debenture bond]] is bond that is unsecured and is issued only on the general credit of a corporation.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Debenture bond]]. Bond that is unsecured and is issued only on the general credit of a corporation.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Serial bond]] is bond issued in a series, each one of which has a different maturity date and thus comes due at a different time.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Serial bond]]. Bond issued in a series, each one of which has a different maturity date and thus comes due at a different time.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Registered bond]] is bondholders of record are registered with the corporation, and interest checks are sent directly to them.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Registered bond]]. Bondholders of record are registered with the corporation, and interest checks are sent directly to them.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Callable bond]] is bond with a provision that it can be called in by the issuing corporation after a certain date.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Callable bond]]. Bond with a provision that it can be called in by the issuing corporation after a certain date.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Convertible bond]] is bondholders have the option of converting bonds into stock at a specified exchange rate.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Convertible bond]]. Bondholders have the option of converting bonds into stock at a specified exchange rate.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Effective rate]] is the real or actual rate of interest to the borrowing corporation.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Effective rate]]. The real or actual rate of interest to the borrowing corporation.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Carrying value]] ([[book value]]) is [[face value]] of bond less bond discount or plus bond premium.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Carrying value]] ([[book value]]). [[Face value]] of bond less bond discount or plus bond premium.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Discount on Bonds Payable]] is the account used when bonds are issued below face value; indicates market rate of interest is higher than contract rate. This account is a contra-liability account.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Discount on Bonds Payable]]. Account used when bonds are issued below face value; indicates market rate of interest is higher than contract rate. This account is a contra-liability account.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Amortization of discount on Bonds Payable]] ([[amortization of premium on Bonds Payable]]) is writing off the bond premium or discount as a decrease or increase to interest expense for each interest period.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Amortization of discount on Bonds Payable]] ([[amortization of premium on Bonds Payable]]). Writing off the bond premium or discount as a decrease or increase to interest expense for each interest period.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Straight-line method]] is a method recognizing equal amounts of interest expense for each period when amortizing a bond discount or premium.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Straight-line method]]. A method recognizing equal amounts of interest expense for each period when amortizing a bond discount or premium.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Premium on Bonds Payable]] is the account used when bonds are issued above face value; it indicates that market interest rate is below contract rate. This account is a liability account.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Premium on Bonds Payable]]. Account used when bonds are issued above face value; it indicates that market interest rate is below contract rate. This account is a liability account.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Interest method of amortization]]. The method that amortizes the premium or discount to record interest expense, being equal to the carrying value of the bond times the market rate times the time period. The interest expense is a constant percentage of the carrying value. The discount or premium to be amortized is the difference between the interest to be recorded and the interest paid to bondholders.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Interest method of amortization]]. This method amortizes the premium or discount to record interest expense, being equal to the carrying value of the bond times the market rate times the time period. The interest expense is a constant percentage of the carrying value. The discount or premium to be amortized is the difference between the interest to be recorded and the interest paid to bondholders.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Sinking fund]] is a fund that accumulates cash to pay off bonds when they are retired.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Sinking fund]]. A fund that accumulates cash to pay off bonds when they are retired.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Bond Sinking Fund Interest Earned]] is other revenue account used to record earnings on sinking fund balance.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Bond Sinking Fund Interest Earned]]. Other revenue account used to record earnings on sinking fund balance.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[Corporate Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Fair Labor Standards Act]] ([[Federal Wage and Hour Law]]) is a [[United States]] law that the majority of American employers must follow that contains rules stating the minimum hourly rate of pay and the maximum number of hours a worker will work before being paid time and a half for overtime hours worked. This law also has other rules and regulations that employers must follow for payroll purposes.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Fair Labor Standards Act]] ([[Federal Wage and Hour Law]]). A [[United States]] law that the majority of American employers must follow that contains rules stating the minimum hourly rate of pay and the maximum number of hours a worker will work before being paid time and a half for overtime hours worked. This law also has other rules and regulations that employers must follow for payroll purposes.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Interstate commerce]] is a test that is applied to determine whether an employer must follow the rules of the [[Fair Labor Standards Act]]. If an employer communicates or does business with another business in some other state, it is usually considered to be involved in [[interstate commerce]].
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Interstate commerce]]. A test that is applied to determine whether an employer must follow the rules of the [[Fair Labor Standards Act]]. If an employer communicates or does business with another business in some other state, it is usually considered to be involved in [[interstate commerce]].
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Form W-4]] ([[Employee's Withholding Allowance Certificate]]) is a form filled out by employees and used by employers to supply needed information about the number of allowances claimed, marital status, and so forth. The form is used for payroll purposes to determine federal income tax withholding from an employee's paycheck.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Form W-4]] ([[Employee's Withholding Allowance Certificate]]). A form filled out by employees and used by employers to supply needed information about the number of allowances claimed, marital status, and so forth. The form is used for payroll purposes to determine federal income tax withholding from an employee's paycheck.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Federal income tax withholding]] ([[FIT withholding]]) is amount of federal income tax withheld by the employer from the employee's gross pay; the amount withheld is determined by the employee's gross pay, the pay period, the number of allowances claimed by the employee on the [[Form W-4|W-4 form]], and the marital status indicated on the [[Form W-4|W-4 form]].
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Federal income tax withholding]] ([[FIT withholding]]). Amount of federal income tax withheld by the employer from the employee's gross pay; the amount withheld is determined by the employee's gross pay, the pay period, the number of allowances claimed by the employee on the [[Form W-4|W-4 form]], and the marital status indicated on the [[Form W-4|W-4 form]].
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Allowances]] (also known as [[exemptions]]) are certain dollar amounts of a person's income tax that will be considered nontaxable for income tax withholding purposes.
| |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Allowances]] (also known as [[exemptions]]). Certain dollar amounts of a person's income tax that will be considered nontaxable for income tax withholding purposes.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Wage bracket table]] is one of various charts in [[IRS Circular E]] that provide information about deductions for federal income tax based on earnings and data supplied on the W-4 form.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Wage bracket table]]. One of various charts in [[IRS Circular E]] that provide information about deductions for federal income tax based on earnings and data supplied on the W-4 form.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[IRS Circular E]] ([[Circular E]]) is an IRS tax publication of payroll procedures, including tax tables.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[IRS Circular E]] ([[Circular E]]). An IRS tax publication of payroll procedures, including tax tables.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[State income tax withholding]] is amount of state income tax withheld by the employer from the employee's gross pay.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[State income tax withholding]]. Amount of state income tax withheld by the employer from the employee's gross pay.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[FICA]] ([[Federal Insurance Contributions Act]]) is part of the Social Security Act of 1935, this law taxes both the employer and employee up to a certain maximum rate and wage base for OASDI tax purposes. It also taxes both the employer and employee for Medicare purposes, but this tax has no wage base maximum.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[FICA]] ([[Federal Insurance Contributions Act]]). Part of the Social Security Act of 1935, this law taxes both the employer and employee up to a certain maximum rate and wage base for OASDI tax purposes. It also taxes both the employer and employee for Medicare purposes, but this tax has no wage base maximum.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Taxable earnings]] is a numerical value that shows amount of earnings subject to a tax. The tax itself is not shown.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Taxable earnings]]. A numerical value that shows amount of earnings subject to a tax. The tax itself is not shown.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Medical insurance]] is health care insurance for which premiums may be paid through a deduction from an employee's paycheck.
| |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Medical insurance]]. Health care insurance for which premiums may be paid through a deduction from an employee's paycheck.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Federal Unemployment Tax Act]] ([[FUTA]]) is a tax paid by employers to the federal government. The current rate is 0.6% on the first $7,000 of earnings of each employee after the normal FUTA tax credit is applied.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Federal Unemployment Tax Act]] ([[FUTA]]). A tax paid by employers to the federal government. The current rate is 0.6% on the first $7,000 of earnings of each employee after the normal FUTA tax credit is applied.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[State Unemployment Tax Act]] ([[SUTA]]) is a tax usually paid only by employers to the state for employee unemployment insurance.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[State Unemployment Tax Act]] ([[SUTA]]). A tax usually paid only by employers to the state for employee unemployment insurance.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Workers' compensation insurance]] is insurance purchased by most employers to protect their employees against losses due to injury or death while on the job.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Workers' compensation insurance]]. Insurance purchased by most employers to protect their employees against losses due to injury or death while on the job.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Payroll tax expense]] is the cost to employers that includes the total of the employer's FICA OASDI, FICA Medicare, FUTA, and SUTA taxes. Remember, the employer matches the employee contributions for OASDI and Medicare.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Payroll tax expense]]. The cost to employers that includes the total of the employer's FICA OASDI, FICA Medicare, FUTA, and SUTA taxes. Remember, the employer matches the employee contributions for OASDI and Medicare.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Employer identification number]] ([[EIN]]) is a number assigned by the IRS that is used by an employer when recording and paying payroll and income taxes.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Employer identification number]] ([[EIN]]). A number assigned by the IRS that is used by an employer when recording and paying payroll and income taxes.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Form SS-4]] is the form filled out by an employer to get an [[EIN]]. The form is sent to the IRS, which assigns the number to the business.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Form SS-4]]. The form filled out by an employer to get an [[EIN]]. The form is sent to the IRS, which assigns the number to the business.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Form 941 tax]] is another term used to describe FIT, OASDI, and Medicare. This name comes from the form used to report these taxes.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Form 941 tax]]. Another term used to describe FIT, OASDI, and Medicare. This name comes from the form used to report these taxes.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Look-back period]] is a period of time used to determine whether a business should make its [[Form 941 tax]] deposits on a monthly or semiweekly basis. The IRS defines this period as July 1 through June 30 of the year prior to the year in which [[Form 941 tax]] deposits will be made.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Look-back period]]. A period of time used to determine whether a business should make its [[Form 941 tax]] deposits on a monthly or semiweekly basis. The IRS defines this period as July 1 through June 30 of the year prior to the year in which [[Form 941 tax]] deposits will be made.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Monthly depositor]] is a business classified as a monthly depositor will make its payroll tax deposits only once each month for the amount of [[Form 941 tax]]es due from the prior month.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Monthly depositor]]. A business classified as a monthly depositor will make its payroll tax deposits only once each month for the amount of [[Form 941 tax]]es due from the prior month.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Semiweekly depositor]] is a business classified as a semiweekly depositor may have to make its payroll tax deposits up to twice in one week, depending on when payroll is paid.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Semiweekly depositor]]. A business classified as a semiweekly depositor may have to make its payroll tax deposits up to twice in one week, depending on when payroll is paid.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Form 941]] ([[Employer's Quarterly Federal Tax Return]]) is a tax report that a business will complete after the end of each calendar quarter indicating the total FICA (OASDI and Medicare) taxes owed plus the amount of FIT withheld from employees' pay for the quarter. If federal tax deposits have been made correctly and on time, the total amount deposited should equal the amount due on Form 941. Any difference results in a payment due or a refund.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Form 941]] ([[Employer's Quarterly Federal Tax Return]]). A tax report that a business will complete after the end of each calendar quarter indicating the total FICA (OASDI and Medicare) taxes owed plus the amount of FIT withheld from employees' pay for the quarter. If federal tax deposits have been made correctly and on time, the total amount deposited should equal the amount due on Form 941. Any difference results in a payment due or a refund.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Form 940]] ([[Employer's Annual Federal Unemployment Tax Return]]) is the form that is used by employers at the end of the [[calendar year]] to report the amount of unemployment tax due for the year. If more than $500 is cumulatively owed at the end of a quarter, it should be paid one month after the end of that quarter. Normally, the report is due January 31 after the calendar year, or February 10 if an employer has already made all deposits.
| |
| − | | |
| − | | |
| − | ==Definitions==
| |
| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
| |
| − | :[[Form 940]] ([[Employer's Annual Federal Unemployment Tax Return]]). This form is used by employers at the end of the [[calendar year]] to report the amount of unemployment tax due for the year. If more than $500 is cumulatively owed at the end of a quarter, it should be paid one month after the end of that quarter. Normally, the report is due January 31 after the calendar year, or February 10 if an employer has already made all deposits.
| |
| − | | |
| − | ==Related concepts==
| |
| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
| |
| − | | |
| − | ==Related coursework==
| |
| − | *[[American Accounting]].
| |
| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
| |
| − | | |
| − | [[Form W-2]] ([[Wage and Tax Statement]]) is a form completed by the employer at the end of the calendar year to provide a summary of gross earnings and deductions to each employee. At least three copies go to the employee, one copy to the IRS, one copy to any state where employee income taxes have been withheld, one copy to the Social Security Administration, and one copy into the records of the business.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Form W-2]] ([[Wage and Tax Statement]]). A form completed by the employer at the end of the calendar year to provide a summary of gross earnings and deductions to each employee. At least three copies go to the employee, one copy to the IRS, one copy to any state where employee income taxes have been withheld, one copy to the Social Security Administration, and one copy into the records of the business.
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[American Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Form W-3]] ([[Transmittal of Wage and Tax Statements]]) is a form completed by the employer to verify the number of W-2s and amounts withheld as shown on them. This form is sent to the Social Security Administration data processing center along with copies of each employee's [[Form W-2|W-2 form]]s.
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| − | | |
| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Form W-3]] ([[Transmittal of Wage and Tax Statements]]). A form completed by the employer to verify the number of W-2s and amounts withheld as shown on them. This form is sent to the Social Security Administration data processing center along with copies of each employee's [[Form W-2|W-2 form]]s.
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[American Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | | |
| − | [[Modified Accelerated Cost Recovery System]] ([[MACRS]]) is a system for businesses to calculate depreciation for tax purposes based on the Tax Laws of 1986, 1989, and 2010; also known as the [[General Depreciation System]] ([[GDS]]).
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| − | | |
| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Modified Accelerated Cost Recovery System]] ([[MACRS]]). A system for businesses to calculate depreciation for tax purposes based on the Tax Laws of 1986, 1989, and 2010; also known as the [[General Depreciation System]] ([[GDS]]).
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[American Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | | |
| − | [[Uniform Partnership Act]] is laws enacted in most states that govern how a partnership is formed, operated, and liquidated.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Uniform Partnership Act]]. Laws enacted in most states that govern how a partnership is formed, operated, and liquidated.
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| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[American Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Partnership]] is the association of two or more persons who act as co-owners of a business.
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| − | | |
| − | | |
| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Partnership]]. The association of two or more persons who act as co-owners of a business.
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Partnership Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Articles of partnership]]. The written contract that spells out the details of the agreement among the partners.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Articles of partnership]]. The written contract that spells out the details of the agreement among the partners.
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Partnership Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Limited life]] is a requirement that a partnership is dissolved by admission, withdrawal, or death of a partner. Although the partnership is dissolved, the operations of the business can continue if a new partnership is formed.
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| − | | |
| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Limited life]]. Partnership is dissolved by admission, withdrawal, or death of a partner. Although the partnership is dissolved, the operations of the business can continue if a new partnership is formed.
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Partnership Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Mutual agency]] is act of a single partner is binding on all members of the partnership.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Mutual agency]]. Act of a single partner is binding on all members of the partnership.
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Partnership Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[General partner]] is a partner who has unlimited liability.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[General partner]]. A partner who has unlimited liability.
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Partnership Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Limited partner]] is the partner's liability is limited to the amount of investment in the partnership.
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| − | | |
| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Limited partner]]. The partner's liability is limited to the amount of investment in the partnership.
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Partnership Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Co-ownership of property]] is each partner owns a share of the assets.
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| − | | |
| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Co-ownership of property]]. Each partner owns a share of the assets.
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Partnership Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Salary allowance]] is a mechanism for dividing earnings of a partnership based on personal services provided by the partners (not an expense).
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Salary allowance]]. A mechanism for dividing earnings of a partnership based on personal services provided by the partners (not an expense).
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Partnership Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Interest allowance]] is a mechanism for dividing earnings of a partnership based on a percentage of capital balances of the partners (not an expense).
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Interest allowance]]. A mechanism for dividing earnings of a partnership based on a percentage of capital balances of the partners (not an expense).
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Partnership Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | | |
| − | [[Profit and loss ratio]] is an agreed-upon ratio used to divide earnings or losses of a partnership.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Profit and loss ratio]]. An agreed-upon ratio used to divide earnings or losses of a partnership.
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Partnership Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Statement of partners' equity]] is a financial statement that reveals each partner's ownership percentage of the firm's capital. The ending figure for the firm's capital is then placed on the balance sheet.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Statement of partners' equity]]. A financial statement that reveals each partner's ownership percentage of the firm's capital. The ending figure for the firm's capital is then placed on the balance sheet.
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Partnership Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | | |
| − | [[Purchase of an equity interest]] is transfer of ownership between an existing partner and a new partner.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Purchase of an equity interest]]. Transfer of ownership between an existing partner and a new partner.
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| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Partnership Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Bonus]] is when a new partner is admitted, he or she may pay more or less than equity interest. If the new partner pays more, the old partners share a bonus in the profit and loss ratio. Of course, the opposite could result, and the new partner could receive a bonus if he or she invests less than equity interest.
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| − | | |
| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Bonus]]. When a new partner is admitted, he or she may pay more or less than equity interest. If the new partner pays more, the old partners share a bonus in the profit and loss ratio. Of course, the opposite could result, and the new partner could receive a bonus if he or she invests less than equity interest.
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| − | | |
| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | | |
| − | ==Related coursework==
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| − | *[[Partnership Accounting]].
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| − | | |
| − | [[Category: Accounting]][[Category: Articles]]
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