The risk that arises from potential fluctuations in the fair value (FV) or future cash flows of a financial instrument...
An entity that has a limited number of shareholders (such as 3 or 5 people). The stock of such an...
A method of accounting whereby an entity recognizes its income and expenses on the general ledger on a cash basis-...
The amount of income taxes payable/ recoverable that correspond to the taxable profit/ loss for a given financial period. For...
Broadly speaking, control is the power/ authority to direct and manage (people's behavior, course of events, things, etc.) In accounting,...
An investor controls an investee when the former has power over the latter. Control is also manifested in the exposure...
A set of accounting practices that are meant to show compliance with principles and rules (such as those prescribed by...
A cost measure that represents the direct costs of the services provided by a business. For a service company, the...
A cost measure (also known as cost of goods sold or in short COGS) that represents the direct costs of...
A cost measure that represents the direct costs of producing the goods sold by a business. For a manufacturing company,...