Accounts Receivable
Money owed to a business by customers for products delivered or services provided on credit. It’s listed as an asset on the balance sheet. Managing receivables well ensures healthy cash flow and minimizes the risk of bad debt from unpaid invoices.
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Australian Accounting Standards Board (AASB)
The statutory body responsible for developing and maintaining accounting standards in Australia. AASB standards are largely aligned with IFRS but include additional requirements for not-for-profit and…
Accounts Payable Aging
A report that categorizes outstanding vendor invoices by due date ranges (e.g. 0–30, 31–60 days), used to manage cash flow…
Active Income
Allocation is the process of distributing costs, revenues, or expenses to different accounts, departments, or projects based on predefined criteria.…
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