Search The Wiki For A Specific Term



Inventory is all the money that the system has invested in purchasing things which it intends to sell.” (chapter 8 The Goal) Other Definitions Inventory – Stock on hand; often divided between raw materials inventory, work-in-process , and finished goods...

Financial Accounting

Financial Accounting is the generation of accounting information for external reporting. (see also Managerial Accounting) (Thomson Nelson; Managerial Accounting Glossary)


An accounting term. To write off as an expense as opposed to classifying as a capital asset. ( glossary)


An expenditure which is chargeable against revenue during an accounting period. An expense results in the reduction of an asset. All expenditures are not expenses. For example, a company buys a truck. It trades one asset – cash – to acquire another asset. An...

Direct Job Costs

(aka Direct Project Costs) The costs directly attributable to a project, including all personnel, goods and/or services together with all their associated costs, but not including indirect project costs, such as any overhead and office costs incurred in support of the...