Demand Deposit
Funds held in a bank account that can be withdrawn at any time without advance notice typically checking accounts. These are highly liquid and classified as current assets on the balance sheet. Businesses rely on demand deposits for everyday operations.
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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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