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Running costs are the ongoing day-to-day expenses required to operate a business, asset, vehicle, machine, or department. Examples include fuel, electricity, maintenance, salaries, consumables,...

Royalty is a payment made to the owner of an asset, right, or intellectual property for the use of that asset by another party....

Risk assessment is the process of identifying, analyzing, and evaluating risks that could affect the financial, operational, legal, or strategic position of a business....

A reverse entry is a journal entry made at the beginning of a new accounting period to cancel a specific adjusting entry passed at...

Revenue recognition is the accounting process of determining when and how much revenue should be recorded in the books. It depends on when control,...

Revenue expenditure is spending incurred for the normal running of the business that benefits the current accounting period rather than future years. Examples include...

Revenue is the income earned from the sale of goods, rendering of services, or other core business activities during a period. It is one...

Revaluation surplus arises when the carrying value of an asset is increased because its fair value exceeds its previous book value under an allowed...

Return on investment measures the profitability earned from an investment relative to the amount invested. It is usually expressed as a percentage and helps...

Retained earnings are the accumulated profits of a business that have not been distributed to owners or shareholders as dividends. Instead, they are kept...

Residual cost generally refers to the remaining cost or balance after deducting allocated, recovered, or expected value from the original amount. In some contexts,...

A reserve is an amount of profit retained in the business for a specific purpose or as a general financial cushion. Reserves may be...