General accounting

General accounting

Use this category for general accounting terms.

Industry: Accounting

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General accounting

acquisition cost

Accounting; General accounting

Cost of an asset after deducting discounts, and adding normal incidental costs (except taxes).

acquisition fee

Accounting; General accounting

Leasing charge that covers the lessor's administrative cost in arranging the lease. It usually includes expenses for obtaining the lessee's credit reports, reviewing the lease documentation, ...

acquittance

Accounting; General accounting

Full payment of a loan (or discharge of an obligation) evidenced by a document or receipt, such as satisfaction of mortgage issued by a lender (mortgagee).

Dividend that is due to the holders of cumulative preferred stock (preference shares) in the current accounting period, but is being carried forward to the next accounting period. It is shown in the ...

accumulated fund

Accounting; General accounting

Capital fund of a non-profit organization, such as an association, charity, or club. Surpluses of income over expenditure are added to this fund, and deficits are withdrawn.

accumulated profits tax

Accounting; General accounting

Income tax assessed on accumulated profits (see retained earnings) that exceed the limit specified in taxation regulations, unless justified by the firm's 'reasonable' needs. The onus is on the ...