Consulting

Consulting

The business of providing professional or expert advice to a commercial business or public institution.

Industry: Business services

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Consulting

efficiency variance

Business services; Consulting

Measures whether the quantity of materials or labor used to make the actual number of outputs is within the standard allowed for that number of outputs. This is computed as the difference in ...

financial statements

Business services; Consulting

Documents that report on a business in monetary amounts, providing information to help people make informed business decisions.

internal control

Business services; Consulting

Organizational plan and all the related measures adopted by an entity to safeguard assets, encourage employees to follow company policies, promote operational efficiency, and ensure accurate and ...

lease

Business services; Consulting

Rental agreement in which the tenant (lessee) agrees to make rent payments to the property owner (lessor) to obtain the use of the asset.

net income

Business services; Consulting

Excess of total revenues over total expenses. Also called net earnings or net profit.

maturity date

Business services; Consulting

The date when final payment of the note is due. Also called the due date.

net present value (NPV)

Business services; Consulting

The decision model that brings cash inflows and outflows back to a common time period by discounting these expected future cash flows to their present value, using a minimum desired rate of return.