Accumulated Depreciation
Accumulated depreciation is the total depreciation expense recorded on an asset since its purchase. It reduces the asset’s book value on the balance sheet, reflecting wear and tear or obsolescence. By tracking accumulated depreciation, businesses align asset values with usage over time, ensuring accurate financial reporting and tax calculations.
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Aging Schedule
An aging schedule categorizes accounts receivable based on how long invoices have been outstanding. It groups accounts by time intervals…
Adjusted Trial Balance
An adjusted trial balance is a financial report that reflects all adjustments made after the initial trial balance. These adjustments…
Activity-Based Costing (ABC)
Activity-Based Costing (ABC) assigns overhead costs to specific activities that contribute to the production of goods or services, providing a…
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