Off-Balance Sheet Items
Off-balance sheet items are assets or liabilities not recorded directly on the balance sheet but still impact financial health. Examples include operating leases, joint ventures, or contingent liabilities. These are often disclosed in footnotes and used in risk assessments to get a full picture of a company’s obligations.
More Items
Operating Lease
An operating lease is a rental agreement where the lessee uses an asset without owning it. It doesn’t appear on…
Obsolescence
Obsolescence occurs when an asset becomes outdated or no longer useful due to new technology, market changes, or wear and…
Outsourced Accounting
Outsourced accounting involves hiring external professionals or firms to handle bookkeeping, payroll, tax filing, and financial reporting. It allows businesses…
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