Terms starting with
Judgmental Forecasting
Judgmental forecasting relies on human insight, experience, and intuition to predict future financial outcomes when data is limited. Accountants and managers use this approach for…
READ MOREJournalizing
Journalizing is the process of recording financial transactions chronologically in a company’s journal before posting them to the ledger. Each entry includes a date, accounts…
READ MOREJoint Cost
Joint cost refers to expenses incurred during a process that produces multiple products simultaneously, such as refining crude oil into petrol and diesel. These costs…
READ MOREJust-in-Time (JIT) Inventory
Just-in-Time inventory is a management strategy that reduces waste and storage costs by receiving materials only when needed for production. It demands precise demand forecasting…
READ MOREJob Costing
Job costing is a method used to track costs associated with a specific project or job. It records direct materials, labour, and overheads separately for…
READ MOREJoint Venture
A joint venture is a temporary business arrangement where two or more entities pool resources to accomplish a specific project or activity. Each party shares…
READ MOREJournal Entry
A journal entry is the primary method of recording business transactions in accounting. Each entry follows the double-entry principle, involving at least one debit and…
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