An accounting procedure is the specific accounting method that a company uses to handle routine accounting matters. These procedures may be written in a manual to assist new employees in learning the system.
An appropriation account pertains to both governmental budgeting and corporate financial statements. It is instrumental in showing how government departments allocate and manage their funds over a financial year, as well as illustrating how profits are distributed in a partnership or a corporation.
A dormant company is an entity that has had no significant accounting transactions during the accounting period in question and therefore is exempt from certain financial and auditing obligations.
Surplus refers to any excess amount over what is needed, particularly in finance and corporate accounting. It denotes assets that remain after liabilities, debts, and capital stock have been deducted.
Unappropriated retained earnings refer to the portion of a company's retained earnings that have not been earmarked for any specific purpose and can be used for general business activities. This is akin to regular retained earnings unless a portion has been set aside for particular uses.
