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Tooltip Tags: accounting

unit cost

Is the cost incurred by a company to produce, store and sell one unit of a particular product. Unit costs include all fixed costs and

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turnover

For a company, the ratio of annual sales to inventory; or equivalently, the fraction of a year that an average item remains in inventory. (source:

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trial balance

Aggregate of all debit and credit balances at the end of an accounting period that shows if the general ledger is in balance (total debits

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triple bottom line [TBL]

According to Economist magazine, in 1994 John Elkington founded a British company named Sustainability and coined the term “triple bottom line» (criteria for measuring organizational

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transposition error

A simple error of data entry. Transposition errors occur when two digits that are either individual or part of a larger sequence of numbers are

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tangible personal property

Movable, touchable assets of an individual. Tangible assets include vehicles, jewelry, furniture, art, etc. Real estate is not considered tangible property. (source: http://www.businessdictionary.com/definition/tangible-personal-property.html)

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surplus

Total assets minus the sum of all liabilities. (source: http://www.thefreedictionary.com/surplus)

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stocks

The total goods or raw material kept on the premises of a shop or business.(source: wordreference.com   )

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slush fund

An amount of money that an organization, business, or political party uses for illegal purposes.(source: macmillandictionary.com ) related: black money

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