by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is an Unrealized Loss?An unrealized loss is a loss that exists on paper which often results from an investor retaining an asset whose price or value has depreciated. An asset that has declined in value but is yet to be sold has an unrealized loss, the loss turns...
by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is Useful Life?Useful life is a term that can be applied to asset, whether long-term assets or short-term assets. The useful life of an asset refers to the period of time during which the asset was used for the intent it was purchased. This is the estimated...
by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is a Forensic Audit?A forensic audit is an accounting term that refers to the process of gathering and tracking of forensic evidence for use in a court of law to prosecute criminal deeds. Criminal actions usually involve things such as fraud or fund embezzlement....
by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is Company Goodwill? Goodwill refers to an intangible assets associated with the purchase of one firm by another firm. More specifically, goodwill comes into play when the bidding price of a firm is greater than the total value (which is considered fair) of all...
by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is a Comptroller?A comptroller is a United States employee in charge of the accounting and financial operations of government agencies, non-profit organizations, and some other business establishments. Comptrollers are actually controllers, and the word is a...
by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is Gross Income?Gross income or gross pay is the total pay of an individual from all their income sources before taxes and other deductions. For a company, gross income is the difference between the company’s revenue and the cost of goods sold (COGS)....
