generally accepted accounting principles
71Differences between management accounting and financial accounting — The structure of accounting as documented by the International Federation of Accountants The differences between management accounting and financial accounting include:[1] Management accounting provides information to people within an… …
72Depletion (accounting) — Depletion is an accounting concept used most often in mining, timber, petroleum, or other similar industries. The depletion deduction allows an owner or operator to account for the reduction of a product s reserves. Depletion is similar to… …
73Comparison of Cash Method and Accrual Method of accounting — A comparison of the two primary accounting methods (Cash method and Accrual method) used to calculate taxable income for U.S. Federal income taxes. According to the Internal Revenue Code, a taxpayer may compute taxable income under the following… …
74Profit (accounting) — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …
75Modified Accrual Accounting — An accounting method commonly used by government agencies that combines accrual basis accounting with cash basis accounting. Modified accrual accounting recognizes revenues when they become available and measurable and, with a few exceptions,… …
76Critical accounting policy — In public corporate finance, a critical accounting policy is a policy for a firm/company or an industry which is considered to have a notably high subjective element, and that has a material impact on the financial statements. These policies are… …
77Goodwill (accounting) — Goodwill is an accounting term used to reflect the portion of the book value of a business entity not directly attributable to its assets and liabilities; it normally arises only in case of an acquisition. It reflects the ability of the entity to …
78Differences between managerial accounting and financial accounting — Managerial Accounting Vs Financial AccountingManagement Accounting is used primarily by those WITHIN a company or organization. Reports can be generated for any period of time such as daily, weekly or monthly. Reports are considered to be future… …
79International Accounting Standards — International Financial Reporting Standards Les normes internationales d information financière, plus connues au sein de la profession comptable et financière sous leur nom anglais de International Financial Reporting Standards ou IFRS sont des… …
80Financial Accounting Standards Board — (FASB) The designated organisation in the private sector for establishing standards of financial accounting and reporting in the US. These standards govern the preparation of financial reports. They are officially recognised as authoritative by… …
