Net Realizable Value
NRV is the estimated selling price of an asset, less any costs required to complete or sell it. It’s commonly used for valuing inventory and accounts receivable under the conservatism principle, ensuring assets are not overstated on the balance sheet and reflect potential losses or adjustments.
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Non-current Liabilities
Non-current liabilities are long-term financial obligations not due within the current fiscal year. These include bonds payable, long-term loans, deferred…
Nominal Account
Nominal accounts are temporary accounts used to record income, expenses, gains, and losses during a period. They are closed at…
Non-cash Expense
Non-cash expenses are costs that don’t involve actual cash outflows during the period. Common examples include depreciation, amortization, and stock-based…
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