ACCA, MBA, Tax Agent ជាអ្នកនិពន្ធហើយអាចប្រលងជាប់៖ ACCA រហូត ៤ មុខវិជ្ជាក្នុងពេលតែម្តង, Tax Agent ពិន្ទុខ្ពស់, MBA & BBA ជាប់ជាសិស្សពូកែ និងមានបទពិសោធការងារជាង ១៥ ឆ្នាំ ព្រមទាំងអ្នកនិពន្ធផ្សេងៗ ?ទិញឯកសារហើយ អានមិនយល់អាចសួរបាន
Matching Principle: A fundamental concept of basic accounting. In any one given accounting period, you should try to match the revenue you are reporting with the expenses it took to generate that revenue in the same time period, or over the periods in which you will be receiving benefits from that expenditure. A simple example is depreciation expense. If you buy a building that will last for many years, you don’t write off the cost of that building all at once. Instead, you take depreciation deductions over the building’s estimated useful life. Thus, you’ve “matched” the expense, or cost, of the building with the benefits it produces, over the course of the years it will be in service.
Married Taxpayers: Taxpayers that are married may file a JOINT RETURN, therefore combining their INCOME and expenses. Individuals will be considered married if:
1. They are living as husband and wife;
2. They are recognized living as common law marriage; or
3. Legally married but separated and living apart but not legally divorced.
Marriage is determined as of the last day of the tax year.
Markup: The amount added to the price of a product by a retailer to arrive at a selling price.
Marketing: Moving goods and services from the provider to consumer.
Manufacturing Overhead: Another term for FACTORY OVERHEAD COSTS.
Marketable Securities: Stocks and other negotiable instruments which can be easily bought and sold on either listed exchanges or over-the-counter markets.
Market Share: Percentage of industry sales of a particular COMPANY or product.
Market Interest Rate: The rate of interest paid in the MARKET on BONDS of similar risk.
Market Index: Numbers representing weighted values of the components that make up the INDEX.
Market: Public place where products or services are bought and sold, directly or through intermediaries.
Markdown: Amount subtracted from the selling price, when a customer sells SECURITIES to a DEALER in the OVER-THE-COUNTER market.
Mark-to-Market: Method of valuing ASSETS that results in adjustment of an asset’s carrying amount to its market value.
Marginal Tax Rate: Amount of tax imposed on an additional dollar of income.
Manufacture: To make or process (a product), especially by using machines.
Manipulation: Buying or selling a SECURITY to create a false appearance of active trading and thus influence other investors to buy or sell shares.
Management’s Report: Management is required to include in its annual report its assessment of the effectiveness of the company’s internal control over financial reporting in addition to its audited financial statements as of the end of the most recent fiscal year.
Management Discussion and Analysis (MD&A) : SEC requirement in financial reporting for an explanation by management of significant changes in operations, ASSETS, and LIQUIDITY.
Management: Combined fields of policy and administration and the people who provide the decisions and supervision necessary to implement the owner’s business objectives and achieve stability and growth.
Macroeconomics: Analysis of a nation’s economy as a whole, using such aggregate data as price levels, unemployment, INFLATION, and industrial production.
Lower of Cost or Market: Valuing ASSETS for financial reporting purposes. Ordinarily, “cost” is the purchase price of the asset and “market” refers to its current replacement cost. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) requires that certain assets (e.g., INVENTORIES) be carried at the lower of cost or market.
Loss on Disposal of Plant and Equipment: The account in which a LOSS is recorded when a firm sells or trades in an ASSET and receives an amount less than the BOOK VALUE for that asset.
Loss: Excess of EXPENDITURES over REVENUE for a period or activity. Also, for tax purposes, an excess of basis over the amount realized in a transaction.
Long-Term Loss: Negative counterpart to LONG-TERM GAIN as defined by the same legislation.
Long-Term Gain: Subsequent to the Tax Reform Act of 1984 and prior to provisions of the Tax Reform Act of 1986 effective in 1988, a gain on the sale of a capital asset where the HOLIDNG PERIOD was six months or more and the profit was subject to the LONG-TERM CAPITAL GAINS tax.
Long Term: HOLDING PERIOD of six months or longer, according to the Tax Reform Act of 1984 and applicable in calculating the CAPITAL GAINS tax until 1988.
Long Bond: BOND that matures in more than 10 years.
Loan Value: Amount a LENDER is willing to LOAN against COLLATERAL.
Loan: Transaction wherein an owner of property, called the LENDER allows another party, the borrower, to use the property.
Litigation Support/Dispute Resolution: A service that CPAs often provide to attorneys – e.g., expert testimony about the value of a business or other asset, forensic accounting (a partner stealing from his other partners, or a spouse understating his income in a matrimonial action). The lawyer hires the CPA to do the investigation and determine the amount of money stolen or understated.
Listed Property: Limits are imposed on the DEPRECIATION deduction a taxpayer may claim on certain listed property as follows:
1. A passenger car;
2. Other property used as transportation;
3. Property used for purposes of entertainment, recreation, or amusement;
4. A computer and peripheral equipment; and
5. Cellular telephone.
Liquidity: Available money on hand to pay bills when they are due and to take care of unexpected needs for CASH.
Liquid Assets: Cash, cash equivalents, and marketable SECURITIES.
Limited Liability Partnership (LLP): GENERAL PARTNERSHIP which, via registration with an appropriate state authority, is able to enshroud all its partners in LIMITED LIABILITY. Rules governing LLPs vary significantly from state to state.
Limited Liability Company (LLC): Form of doing business combining LIMITED LIABILITY for all owners (called members) with taxation as a PARTNERSHIP. An LLC is formed by filing ARTICLES OF ORGANIZATION with an appropriate state official. Rules governing LLCs vary significantly from state to state.