Goods in Transit
Inventory that has been shipped by the seller but not yet received by the buyer. Depending on shipping terms (FOB shipping point or destination), the goods may still be recorded as inventory by the seller or buyer. These need special attention during inventory counts and audits.
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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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