A subsidiary ledger provides detailed information supporting a specific umbrella account found in the general ledger, ensuring data consistency and detailed record-keeping.
The Sum-of-the-Years'-Digits (SYD) depreciation is a method of allocating the cost of an asset over its useful life. This method involves computing a fraction each year that is applied against the depreciable amount, making it an accelerated depreciation method.
The Sum-of-the-Years'-Digits (SYD) method is an accelerated depreciation technique that allows for higher depreciation expenses in the earlier years of an asset's life and lower expenses as the asset ages.
Tangible assets are physical items that hold value and can be seen and touched, used by businesses to generate revenue.
A trade discount is a reduction in the list price of goods offered by sellers to buyers, often to encourage bulk purchases or maintain customer loyalty.
A trading account, crucial in financial accounting, involves comparing the cost of sales with the revenue generated to determine the gross profit within a profit and loss account.
Treasury stock refers to shares of a company's own stock that have been reacquired by the company itself, subsequently reducing the number of shares available in the open market.
The unamortized cost is the historical cost of a fixed asset minus the total depreciation or amortization applied to it up to a specified date. It represents the current book value of the asset in financial accounting.
The unexpensed portion of the amount by which the price paid for a security exceeded its par value with bonds or preferred stock, or its market value with common stock.
An unearned discount is an account on the books of a lending institution that recognizes interest deducted in advance from a loan. This interest will be taken into income as earned over the life of the loan.
Variable costs are expenses that change in proportion to the level of activity or volume of production a business undertakes.
