Internal process perspective is a viewpoint employed in the balanced scorecard to evaluate the effectiveness and efficiency of a company’s value chain, including product development, production, delivery, and after-sale service.
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- The Journal
The Journal, an accounting record in which transactions are initially recorded in chronological order. The journal is referred to as the book of original entry.
- Retained earnings statement
The retained earnings statement is a financial statement that shows the changes in retained earnings during the year.
- Cost accounting
Cost accounting involves the measuring, recording, and reporting of product costs. From the data accumulated, companies determine both the total cost...
- Convertible bonds
Convertible bonds refer to the bonds that permit bondholders to convert them into common stock at their option.
- Matching principle
This method of expense recognition is referred to as the Matching principle that companies match efforts (expenses) with accomplishments (revenues).
- Budgeted income statement
Budgeted income statement refers to an estimate of the expected profitability of operations for the budget period.
- Direct materials
Raw materials that can be physically and directly associated with the finished product during the manufacturing process are called direct materials.