Accounting Terms – Page 16

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Cost Principle

The measurement principle that requires reporting values on financial statements by referring to historical cost (HC)- as a measure of...

Interest

In a certain context, it refers to the cost of money borrowed from a lender in a direct (by means...

NCC

An acronym for non-cash charge; an expense/ charge that does not involve a cash transaction- that is, it constitutes no...

Irrebuttable Presumption

An accounting rule that an entity applies to govern specific classification and measurement considerations in all cases, including any case...

Nonfinancial Liability

A liability for which an entity (carrying it on its balance sheet) is not under obligation to settle it using...

Operating Liability

A liability for which an entity (carrying it on its balance sheet) is not under obligation to settle it using...

Non-Financial Liability

A liability for which an entity (carrying it on its balance sheet) is not under obligation to settle it using...

Price Risk

A type of risk that reflects any potential losses that may arise, in both on (on-BS) and off-balance sheet (off-BS)...

Fair Value Hierarchy

A multi-level prioritization system (hierarchy) that groups the inputs used in valuation techniques (particularly for fair value calculation/ estimation) into...

Total Current Liabilities

The aggregate amount of an entity’s obligations that will be settled (paid off) using current assets. That is, the sum…