Deficit
Deficit is a situation where expenses exceed income or liabilities exceed assets. It’s commonly used in government or nonprofit accounting but also applies to businesses. A sustained deficit may signal cash flow issues or structural financial problems needing corrective action.
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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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