A qualitative characteristic of financial information that is provided in financial statements and financial reporting by an entity. It refers...
An entity that has a limited number of shareholders (such as 3 or 5 people). The stock of such an...
It stands for general purpose financial reporting; financial reporting that aims to accommodate the common information needs of a variety...
Financial reporting that aims to accommodate the common information needs of a variety of users, rather than a specific set...
It stands for effective interest method; an method/ technique whereby the amortized cost of a financial asset or a financial...
An method/ technique whereby the amortized cost of a financial asset or a financial liability is calculated to the effect...
An accounting ratio that relates an entity's current assets, liquid assets, or highly liquid assets (absolute liquid assets) to its...
The amount that results from deducting cash sales from total sales. In other words, it is equal to the net...
A method of accounting whereby an entity recognizes its income and expenses on the general ledger on a cash basis-...
A method of accounting whereby an entity recognizes its income and expenses on the general ledger on an accrual basis-...