realizable assets
31Classification of accounts — According to Modern approach Accounts are classified into five groups: Asset Expense Revenue Liability Capital According to Traditional approach Accounts are classified into three groups: Real – all the assets except Debtors Nominal – all the… …
32alternative accounting rules — Alternative rules for valuing certain assets under the Companies Act (1985). These rules modify the historical cost convention. According to the modified rules intangible assets may be valued at current cost (with the exception of goodwill).… …
33Inventory valuation — INVENTORIES AND FINANCIAL STATEMENTS Inventories are usually the largest current asset of a business, and proper measurement of them is necessary to assure accurate financial statements. If inventory is not properly measured, expenses and… …
34Generally Accepted Accounting Principles (United States) — In the U.S., generally accepted accounting principles, commonly abbreviated as US GAAP or simply GAAP, are accounting rules used to prepare, present, and report financial statements for a wide variety of entities, including publicly traded and… …
35Going concern — A going concern is a business that functions without the intention or threat of liquidation for the foreseeable future, usually regarded as at least within 12 months.Use in AccountingIn accounting, going concern refers to a company s ability to… …
36Conceptual Framework — Das C.F. des ⇡ Financial Accounting Standards Board (FASB) bildet das allgemeine, übergeordnete Rechnungslegungssystem der United States Generally Accepted Accounting Principles (⇡ US GAAP). Nachdem die Versuche der Vorgängerorganisationen des… …
37historical-cost accounting — A system of accounting based primarily on the original costs incurred in a transaction. It is relaxed to some extent by such practices as the valuation of stock at the lower of cost and net realizable value and, in the UK, revaluation of fixed… …
38insolvency — The inability to pay one s debts when they fall due. In the case of individuals this may lead to bankruptcy and in the case of companies to liquidation. In both of these cases the normal procedure is for a specialist, a trustee in bankruptcy or a …
39insolvency — The inability to pay one s debts when they fall due. In the case of individuals this may lead to bankruptcy and in the case of companies to liquidation In both of these cases the normal procedure is for a specialist, a trustee in bankruptcy or a… …
40realize — transitive verb ( ized; izing) Etymology: French réaliser, from Middle French realiser, from real real Date: circa 1611 1. a. to bring into concrete existence ; accomplish < finally realized her goal > b. to cause to seem real …
