Accountancy

Accountancy

Industry: Financial services

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Accountancy

Currency risk

Financial services; Accountancy

The risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates.

An entity shall classify an asset as current when: (a) it expects to realise the asset or intends to sell or consume it in its normal operating cycle; (b) it holds the asset primarily for the purpose ...

Current cost

Financial services; Accountancy

The amount of cash or cash equivalents that would have to be paid if the same or an equivalent asset was acquired currently. The undiscounted amount of cash or cash equivalents that would be required ...

Current liability

Financial services; Accountancy

An entity shall classify a liability as current when: (a) it expects to settle the liability in its normal operating cycle; (b) it holds the liability primarily for the purpose of trading; (c) the ...

Rebates

Business services; Marketing

When buying a product or a service, the client can get a rebate (on the price) from the reseller so that the purchase will be cheaper for the client. In B2B, a vendor can give rebates to his ...

Accounting policies

Financial services; Accountancy

The specific principles, bases, conventions, rules and practises applied by an entity in preparing and presenting financial statements.

Accrual basis of accounting

Financial services; Accountancy

The effects of transactions and other events are recognised when they occur (and not as cash or its equivalent is received or paid) and they are recorded in the accounting records and reported in the ...