N

Notes receivable are written promises from another party to pay a specified amount to the business at a future date, often with interest. They...

Notes payable are written promises by a business to repay a specified amount at a future date, often with interest. They may arise from...

Normal balance refers to the side, debit or credit, on which an account typically increases. For example, assets and expenses usually have a debit...

A non-recurring expense is a one-time or unusual cost that is not expected to occur regularly in the normal course of business. Examples may...

Non-operating income is income earned from activities that are not part of the company’s main business operations. Examples include profit on sale of assets,...

A non-monetary asset is an asset whose value is not fixed in terms of a specific amount of money. Examples include inventory, fixed assets,...

Non-current liabilities are obligations that are due after more than one year from the reporting date. Examples include long-term loans, debentures, lease liabilities, and...

Non-controlling interest represents the portion of equity in a subsidiary that is not owned by the parent company. Even though the parent controls the...

A non-cash expense is an expense recognized in the profit and loss statement that does not involve an immediate cash outflow in that period....

A non-adjusting event is an event that occurs after the reporting date but does not relate to conditions that existed at the balance sheet...

The nominal interest rate is the stated or quoted rate of interest on a loan or investment before considering factors such as compounding or...

A nominal account is an account used to record income, expenses, gains, and losses for a particular accounting period. These accounts are temporary in...