Deficiency Account
An account used to record the shortfall when liabilities exceed assets, especially in insolvency or liquidation scenarios. It reflects the gap between what’s owed and what’s available to pay creditors, offering a clear view of financial shortfall.
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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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