5 Terms
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Tax
Of or relating to the fees charged by a government on a product, income, or activity; and also to the system by which they are successfully levied.
Industry: Accounting
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Tax
Gross revenue (gross sales)
Accounting; Tax
Includes all sales based on stated invoice amounts and unreduced by customer discounts, allowances, or returns Net sales are gross sales less discounts, allowances, etc
Accounting procedure
Accounting; Tax
Similar to accounting method, but applied to more routine issues For example, the method of computing depreciation, handling small capital expenditures
Levered free cash flow
Accounting; Tax
Cash flow after capital expenditures and changes in net working capital and mandatory repayments of debt Unlevered free cash flow does not include interest and mandatory principal repayments Lien ...
Gross profit method
Accounting; Tax
An approach to estimating inventory at an interim period The approach is not allowed for year-end purposes or for tax reporting purposes A physical inventory must be made
Accounting method
Accounting; Tax
Any number of approaches for calculating the income of an entity Usually applied to the general means of recognising income and expenses, e g , cash or accrual But it can also apply to method of ...
Leverage
Accounting; Tax
1 Financial leverage is the act of increasing the return on an investment by borrowing some of the funds at an interest rate less than your return on the project 2 Operating leverage has the same ...
Graduated payment mortgage
Accounting; Tax
A loan where the initial payments are lower than the amount needed to amortise the loan Debt service grows each year till it reaches a set amount Used to increase the affordability of a home or ...
