by Online Tutorial & Training Guide | Nov 23, 2025 | Cost & Managerial Accounting, Terminologies
Indirect costs that cannot be directly traced to products or services, such as utilities or administrative salaries. Overhead is allocated to ensure accurate costing. Helps in determining product profitability.
by Online Tutorial & Training Guide | Nov 22, 2025 | Accounting Proram, Terminologies
Predefined instructions within the system that categorize or process transactions automatically. For example, classifying recurring utility bills. Reduces errors and saves time in repetitive bookkeeping tasks.
by Online Tutorial & Training Guide | Nov 20, 2025 | Financial Statements, Terminologies
Includes all changes in equity during a period except those from owner investments or distributions. It extends beyond net income to include items like foreign currency adjustments and unrealized gains. Provides a fuller picture of financial performance.
by Online Tutorial & Training Guide | Nov 18, 2025 | Recording & Adjustments, Terminologies
End-of-period journal entries to update accounts for accruals, deferrals, or estimates. Examples include accrued wages or depreciation. They ensure revenues and expenses match the proper period.
by Online Tutorial & Training Guide | Nov 16, 2025 | Chart of Accounts, Liabilities, Terminologies
Declared dividends owed to shareholders but not yet distributed. Once declared, they are an obligation until paid. They reduce retained earnings.
