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General accounting

Use this category for general accounting terms.

Contributors in General accounting

General accounting

capital stock

Accounting; General accounting

Total amount of a firm's capital, represented by the value of its issued common and preferred stock (ordinary and preference shares).

break-even point

Accounting; General accounting

The level of business operations at which revenues and expired costs are equal.

contribution margin

Accounting; General accounting

Sales less variable cost of goods sold and variable selling and administrative expenses.

current assets

Accounting; General accounting

Cash and other assets that are expected to be converted to cash or sold or used up through the normal operations of the business within 1 year or less.

current liabilities

Accounting; General accounting

Liabilities that will be due within a short time (usually 1 year or less) and that are to be paid out of current assets.

Generally Accepted Accounting Principles (GAAP)

Accounting; General accounting

Rules for the way financial statements should be prepared.

International Accounting Standards Board

Accounting; General accounting

An authoritative body that establishes accounting principles and practices for companies outside of the United States.

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