Depreciation
Depreciation is the gradual reduction in value of a fixed asset over time due to wear and tear or obsolescence. It’s recorded as an expense and helps match the cost of the asset to the revenue it helps generate. Common methods include straight-line and declining balance.
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Deficiency Account
An account used to record the shortfall when liabilities exceed assets, especially in insolvency or liquidation scenarios. It reflects the…
Deferred Payment Sale
A sales agreement where the buyer receives goods now but pays in future installments. The revenue is often recognized at…
Deferred Liability
Deferred liability is a financial obligation not due until a future date beyond the current accounting period. Examples include pension…
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