Glossary Of Accounting Terms And Definitions

Residual value is defined as the book value of a fixed asset after it has been fully depreciated. Resource absorption is when all the limited resources of the company are absorbed. Restricted assets are those whose use or working is restricted by law. Results for operations is the commonly used synonym for financial statement. In … Continue reading Glossary Of Accounting Terms And Definitions

Glossary Of Accounting Terms And Definitions

Capitalization refers to the statement of the total capital available with the firm. It is the rate of interest that is required to convert the series of future receivable payments into their present value equivalent. Capitalized costs are those that are deducted over several accounting periods on account of depreciation or amortization. The required forms … Continue reading Glossary Of Accounting Terms And Definitions

Glossary Of Accounting Terms And Definitions

Direct Materials includes the cost of purchasing the raw materials for the process of production. The director’s report is written by the director of the company in the annual report as to his analysis and comments on the performance of the company in the past year and the director’s vision for the next year. Direct … Continue reading Glossary Of Accounting Terms And Definitions