Term
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Definition
| Probably debts or obligations that result from past transactions which will be paid with assets or services |
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Term
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Definition
| Short term obligations that will be paid within one year, current operating cycle, or whichever is longer |
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Term
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Definition
| The ability to pay current obligations |
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Term
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Definition
| Expenses that have been incurred but have not been paid at the end of the accounting period |
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Term
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Definition
| Interest that is associated with the use of money over time |
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Term
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Definition
| Revenues that have been collected but not earned; they are liabilities until the goods or services are provided |
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Term
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Definition
| A potential liability that has arisen as the result of a past event;not an effective liability until some future event occurs |
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Term
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Definition
| The dollar difference between total current assets and total current liabilities |
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Term
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Definition
| All of the entity's obligations not classified as current liabilities |
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Term
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Definition
| Does not meet any of the four criteria established by GAAP and does not cause the recording of an asset and liability |
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Term
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Definition
| Meets at least of ot the four criteria established by GAAP and results in the recording of an asset and liability |
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Term
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Definition
| The current value of an amount to be received in the future; a future amount discounted for compound interest |
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Term
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Definition
| A series of periodic cash receipts or payments that are equal in amount each interest period |
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Term
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Definition
| The sum to which an amount will increase as the result of compound interest |
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