The process of isolating and separating a certain component of an instrument in order to account for both separately. An...
A liability account which is expected to carry a debit balance. It decreases other liabilities on the balance sheet by...
A financial statement that is prepared for the sole purpose of comparing financial results of a current period with those...
A increase in cost of one alternative over the cost of another. In other words, it constitutes the change in...
A increase in cost of one alternative over the cost of another. In other words, it constitutes the change in...
A budget that presents a forecast of an entity's expense items to be incurred and revenue to be generated from...
The restatement of an entity's financial statements that is prompted by discovery of an accounting error (material error) in prior...
In relation to differential analysis, it is the difference between the costs of two alternative courses of action/ methods/ choices...
A journal entry that is made in order to correct an accounting error. Correcting entries are an adjustment to an...
One of multiple ways of a management's intervention to correct an accounting error (particularly, immaterial error) that, rather than restating...