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A purchases journal is a special journal used to record credit purchases of goods or materials. It helps organize repetitive purchase transactions separately before...

Purchase returns are goods returned by the buyer to the supplier, usually because of defects, wrong quantity, damage, or quality issues. These returns reduce...

A purchase order is a formal document issued by a buyer to a supplier specifying the goods or services required, quantity, price, terms, and...

A public offering is the process by which a company issues shares or other securities to the public in order to raise capital. This...

A provision is a liability recognized for an obligation that is probable and can be reasonably estimated, even though the exact amount or timing...

Profit margin shows what percentage of revenue remains as profit after certain costs are deducted. Different versions exist, such as gross profit margin, operating...

A profit and loss statement, also called an income statement, shows the revenue earned and expenses incurred during a period to determine the resulting...

A production budget is a plan that estimates the number of units to be produced during a future period based on expected sales, opening...

Processing cost refers to the cost incurred in converting raw materials or inputs into finished goods or usable output. It may include labor, machine...

Principal is the original amount of money borrowed, invested, or outstanding before adding interest or other charges. In loans, repayments often include both principal...

Price margin generally refers to the difference between selling price and cost, showing how much room there is to cover expenses and earn profit....

Prepaid interest is interest paid in advance for a future period on a loan or borrowing arrangement. Since the benefit relates to future periods,...