by Lea Strickland | Jul 31, 2010 | Glossary
Assets that are unlikely to be turned into cash in less than one year and are tangible – can be seen, touched, etc. Includes furniture, fixtures, computers, equipment, etc.
by Lea Strickland | Jul 31, 2010 | Glossary
Funds generated from sale of goods or services, or any other use of capital or assets, associated with the main operations of firm before any costs or expenses are deducted. Revenue is shown usually as the top item in an income (profit and loss) statement from which...
by Lea Strickland | Jul 31, 2010 | Glossary
Ability of current assets to meet current liabilities.
by Lea Strickland | Jul 31, 2010 | Glossary
Accounts and wages payable, accrued rent and taxes, trade debt, and short and long-term loans. Owners’ equity also is termed a liability because it is an obligation of the firm to its owners. Liabilities are entered on the right hand-side of the page in a...
by Lea Strickland | Jul 31, 2010 | Glossary
Expenses incurred in joint usage and are assigned to or identify with a specific cost object through allocation.
