Valuation Allowance
A valuation allowance is a reserve account used to reduce the value of a deferred tax asset when it’s unlikely to be fully realised. It reflects conservative accounting by recognising that certain tax benefits may not be usable due to insufficient future taxable income.
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Valuation
Valuation is the process of determining the fair market value of an asset, company, or liability. It’s essential for financial…
Value Added Tax (VAT)
VAT is a consumption tax imposed at each stage of the supply chain where value is added. Businesses collect VAT…
Variable cost
Variable costs change directly with the level of production or sales. Common examples include raw materials, direct labour, and packaging.…
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