Deficit Account
An equity account that tracks accumulated losses when a business’s expenses surpass its revenues over time. It reflects negative retained earnings and reduces the overall net worth of the company. Often seen in early-stage or loss-making businesses.
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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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