Going Concern
An accounting principle that assumes a business will continue operating for the foreseeable future. It affects asset valuation, debt classification, and financial reporting. If a company isn’t a going concern (e.g., facing bankruptcy), its financial statements must reflect that reality.
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Gain on Sale of Asset
Gain on Sale of Asset refers to the profit realised when a fixed asset is sold for more than its…
Green Accounting
Green accounting, or environmental accounting, integrates environmental costs into financial reporting. It tracks expenses and benefits related to sustainable practices,…
Gratuity
Gratuity is a statutory payment made by employers to employees as a reward for long-term service. It is typically paid…
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