Depreciation Expense
Depreciation is the periodic allocation of an asset’s cost over its useful life. It appears on the income statement and reduces taxable income. It doesn’t involve actual cash outflow but ensures expenses match the revenue generated by the asset each year.
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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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