Accounting - Categories - Financial Literacy for Everyone - Bambarbia

1%/10 Net 30

Accounting Corporate Finance Financial Terms Dictionary

Deal 1%/10 net 30 is when a 1% discount is offered on services or products if paid within 10 days of the 30 day payment agreement.

Absorption Costing

Accounting Corporate Finance Financial Terms Dictionary

Absorptive cost differs from variable cost because it allocates a fixed overhead to each unit of product produced during a period.

Accelerated Depreciation

Accounting Corporate Finance Income Tax Financial Terms Dictionary

Accelerated depreciation is any depreciation method that allows you to recognize higher depreciation costs in previous years.

Accountability

Accounting Corporate Finance Financial Terms Dictionary

Accountability is the acceptance of responsibility for one’s actions. This implies a willingness to be transparent, allowing others to observe and evaluate their work.

Accountant Responsibility

Accounting Corporate Finance Financial Terms Dictionary

The responsibility of an accountant is the ethical responsibility of an accountant to those who rely on his work.

Accounting Conservatism

Accounting Corporate Finance Financial Terms Dictionary

Accounting conservatism is a principle that requires that company accounts be prepared with care and a high degree of verification.

Accounting Cycle

Accounting Corporate Finance Financial Terms Dictionary

The accounting cycle is a process designed to facilitate the financial accounting of business activities for business owners.

Accounting Method

Accounting Corporate Finance Financial Terms Dictionary

An accounting method consists of the rules and procedures that a company follows in reporting its income and expenses.

Accounting Policies

Accounting Corporate Finance Financial Terms Dictionary

Accounting policies are the procedures a company uses to prepare financial statements. Unlike accounting principles, which are rules, accounting policies are the standard for following those rules.

Accounting Profit

Accounting Corporate Finance Financial Terms Dictionary

Accounting profit shows the amount of money left after deducting the explicit costs of doing business.

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