Employee Liabilities
Amounts owed by a company to its employees or on their behalf. This includes unpaid wages, accrued vacation, payroll taxes, and pension contributions. These are recorded as current liabilities and must be settled in the near term to remain compliant.
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Equitable Charge
An equitable charge is a claim on an asset that does not transfer ownership but grants the lender rights over…
Extended Trial Balance
An extended trial balance is a worksheet that expands the standard trial balance to include adjustment, income statement, and balance…
Expense Allocation
Expense allocation is the process of distributing shared or indirect costs across departments, projects, or cost centres. It ensures expenses…
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