Outstanding stock means the number of shares of issued stock that are being held by stockholders.
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- Retail Inventory Method
Retail inventory method is a method for estimating inventories where companies compute a cost-to-retail ratio by dividing the cost of goods available for sale...
- Equivalent units of production
Equivalent units of production measure the work done during the period, expressed in fully completed units. This concept is used to determine the cost per unit of completed product.
- Unpaid expenses
Expenses incurred during the year but for which payment has not been made and will have to be made next year are called unpaid
- Prepaid expenses
Prepaid expenses or prepayments are companies record payments of expenses that will benefit more than one accounting period, an asset account is increased...
- Capital expenditures
Capital expenditures refer to the expenditures that increase the operating efficiency, productive capacity, or useful life of a plant asset.
- Physical units
Physical units are the actual units to be accounted for during a period, irrespective of any work performed. To keep track of these units, add the units started...
- Direct labor
The work of factory employees that can be physically and directly associated with converting raw materials into finished goods is called direct labor.