4 Terms
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General accounting
Use this category for general accounting terms.
Industry: Accounting
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General accounting
warranty expense
Accounting; General accounting
The expense associated with a commitment to repair or replace a product for a specified period of time. The expense should be reported on the income statement at the time that the sale of the product ...
write-up work
Accounting; General accounting
The preparation of financial statements from a client's information and without any review or audit of the amounts.
write-off
Accounting; General accounting
The reduction or removal of an asset amount. For example, an account receivable will be removed or written off if the customer is not able to pay the amount owed to the company.
write-down
Accounting; General accounting
The reduction to the carrying amount of an asset. For example, we often reduce or write down inventory from its cost to its market value when market value is lower.
accrued assets
Accounting; General accounting
Earned but yet unrealized asset, such as accrued income.
accrued dividend
Accounting; General accounting
Regular dividend considered to have been earned by the stockholders, but not yet declared or payable.
accrued expenses
Accounting; General accounting
Expenses (such as wages, salaries, and utility charges) which are incurred but for which no payment is made during an accounting period. They are shown in the balance sheet as a current (short term) ...
