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 Account
A valuation account adjusts the carrying value of an associated asset or liability, such as an allowance for doubtful debts…
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…
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