Numerical Methods

Matrix
A matrix is a mathematical term describing a rectangular array of elements such as numerical data, parameters, or variables. Each element within a matrix has a unique position, defined by the row and column.
Rounding Error
A rounding error is a computational discrepancy that occurs when the exact representation of a number cannot be stored accurately in a computer due to limitations in precision, leading to an approximation stored with finite digits.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.