Technical terms
A non-deductible expensive does not impact a tax bill.
A fixed amount is issued every month. Every time cash is required, there is no incentive to ensure all money issued has been documented, because when money ...
Infrequent/standalone transactions, Includes the acquisition or disposal of a business unit, adoption or cancellation of a benefit plan, change in accountin...
The selection of a test group is based on the examiner’s judgement, rather than a formal statistical method.
First entry in a firm’s accounts, either when they are first starting up or at the start of a new financial year. The opening balance can be found on the cr...
Broadly refers to the country you are normally resident in.
All costs on the income statement, except for direct labour, direct materials, and direct expenses. Includes accounting fees, advertising, insurance, intere...
Form that establishes the right and responsibilities of each partner in a for-profit business partnership, as well as the profit and loss distribution of ea...
A type of performance measurement, evaluating the success of an organisation or of a particular activity.