Valuation Account
A valuation account adjusts the carrying value of an associated asset or liability, such as an allowance for doubtful debts or accumulated depreciation. It ensures that financial statements reflect a realistic and fair value of assets and obligations.
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Vendor Management
Vendor management is the process of monitoring and optimising relationships with suppliers and service providers. In accounting, it ensures timely…
Variance Report
A variance report compares budgeted figures to actual results to identify performance gaps. It highlights both favourable and unfavourable variances…
Variable Overhead
Variable overhead refers to indirect costs that change with production levels, such as power, indirect materials, and machine maintenance. These…
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