Accounting Insolvency

Business / Finance / Accounting Insolvency: Total liabilities exceed total assets. A firm with a negative net worth is insolvent on the books.

Generally Accepted Accounting Principals (GAAP)

Business / Finance / Generally Accepted Accounting Principals (GAAP): The sum of taxes, charges, and miscellaneous income taken in at the state and local level while neglecting overlapping revenue which may be erroneously counted twice. MORE

Generally Accepted Accounting Principles (GAAP)

Business / Accounting / Generally Accepted Accounting Principles (GAAP): Authoritative guidelines that define accounting practice at a particular time. MORE

Inflation Accounting

Business / Finance / Inflation Accounting: The rate at which the general level of prices for goods and services is rising. MORE

Financial Accounting Standards Board (FASB)

Business / Accounting / Financial Accounting Standards Board (FASB): The private organization responsible for establishing the standards for financial accounting and reporting in the United States. MORE

Financial Accounting

Business / Accounting / Financial Accounting: The area of accounting concerned with reporting financial information to interested external parties. MORE

Double-Entry Accounting

Business / Accounting / Double-Entry Accounting: A system of recording transactions in a way that maintains the equality of the accounting equation. MORE

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