loss accounting
91cash basis of accounting — receipts and payments basis Accounting based on the cash concept rather than the accruals concept. Transactions are recorded on the date that cash is received or paid out and are included in the profit and loss account in which these payments… …
92qualifying loss — A trading loss arising in a current accounting period as a result of computing the profits and losses of an organization in accordance with accepted corporation tax principles. See loss reliefs …
93profit and loss account — noun the financial statement of an accounting entity disclosing the revenues, expenses, gains and losses arising in a specific period, and the result of the period expressed as an operating profit or an operating loss. Also, profit and loss… …
94gain and loss exhibit — report on income and profits or losses sustained by a business during an accounting period (Accounting) …
95profit and loss — noun Date: 1588 a summary account used at the end of an accounting period to collect the balances of the nominal accounts so that the net profit or loss may be shown …
96Net operating loss — Under U.S. Federal income tax law, a net operating loss (NOL) occurs when certain tax deductible expenses exceed taxable revenues for a taxable year.[1] If a taxpayer is taxed during profitable periods without receiving any tax relief (e.g. a… …
97Nonrecurring Gain Or Loss — A one time or highly infrequent profit or loss. One time gains or losses are reported separately in a coporation s income statement net of income taxes and are not shown to affect earnings per share (EPS). Also referred to as extraordinary… …
98accumulated loss — UK US noun [C, usually singular] ACCOUNTING ► ACCUMULATED DEFICIT(Cf. ↑accumulated deficit) …
99qualifying loss — A trading loss arising in a current accounting period as a result of computing the profits and losses of an organization in accordance with accepted corporation tax principles …
100realized profit/loss — A profit or loss that has arisen from a completed transaction (usually the sale of goods or services or other assets). In accounting terms, a profit is normally regarded as having been realized when an asset has been legally disposed of and not… …
