A subsidiary ledger is a detailed ledger that supports a control account in the general ledger. For example, individual customer balances may be maintained in an accounts receivable subsidiary ledger while the total appears in the control account. It improves record organization and allows detailed tracking without overcrowding the main ledger.
Systematic Allocation
Systematic allocation means spreading a cost over time or across units using a consistent and rational method. Depreciation and amortization are common examples of...
Suspense Account
A suspense account is a temporary account used to hold amounts when the correct accounting treatment or account head is not yet known. It...
Sunk Cost
A sunk cost is a cost that has already been incurred and cannot be recovered, regardless of future decisions. Since it cannot be changed,...
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