Depreciation
Depreciation is the gradual reduction in value of a fixed asset over time due to wear and tear or obsolescence. It’s recorded as an expense and helps match the cost of the asset to the revenue it helps generate. Common methods include straight-line and declining balance.
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Div 7A Loan
A loan or advance made by a private company to a shareholder or associate under Division 7A of the ITAA…
Deferred Tax Liability
An amount owed in future tax payments arising from temporary differences between book income (per GAAP) and taxable income (per…
Departmental Accounting
Departmental accounting tracks income, expenses, and profitability separately for individual departments within an organisation. It helps management evaluate performance at…
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