Technical terms
The matching principle of accounting which includes accruals, deferrals and asset value adjustments.
An accessible store of money kept by an organisation for expenditure on small items.
A small form that is used to document a disbursement (payment) from a petty cash fund. Also referred to as petty cash receipts.
Books where transactions are first recorded before become part of the double-entry bookkeeping system.
Refers to a statement of a company’s financial doings, that excludes unusual or nonrecurring transactions, when reporting the company’s earnings. Excluded e...
The costs used to create a product, including direct labour, direct materials, consumable production supplies, and factory overhead.
A bottleneck is one process in a chain of processes that its limited capacity reduces the capacity of the whole chain and stall production, e.g. supply over...
The degree to which a business or activity yields profit or financial gain.
A part of an organisation that is accounted for on a standable basis for the purposes of profit calculation. A profit center is responsible for generating i...