Expenses which take place on an irregular basis. Not recorded on a monthly basis. An example can be the payment of insurance premiums on a quarterly basis, maintenance costs of […]

By placing FIFO as the primary method, the period FIFA is situated upon the usage of the actual costs, which are associated with the inventory first, and then allocating the […]

A method by which the inventory is controlled without keeping any receipts or issues. At the end of every period of accounting, the final inventory is analyzed and an actual […]

Using the base as LIFO, this is an assessment that is set on current costs which are associated with the stock which was last produced, and then allocating the costs […]

Various different activities that are carried out to ensure the smooth operation of a machine, equipment, system or plant. Usually carried out on a regular, preset schedule.

Any charge that is levied at a fixed interval. Commonly, daily or monthly charges.

A report published at a fixed interval, summarizing the events that occurred during that period.

When a company has some stocks which are up for sale, the company will show them on its balance sheet . These stocks will be shown on the financial statement […]

A tenant whose agreement continues from one period of lease to another until and unless terminated by the land owner himself through a statutory notice is known as a period […]

Ability to estimate costs during a period of accounting is known as periodic valuation .

n v. Peas- lee, 20 How. 579, 15 L. Ed. 1022. PERIODICAL . Recurring at fixed intervals ; to be made or done, or to happen, at successive periods separated […]

Any activity which occurs in an accounting period , to be recorded within a prescribed time period on the financial statement .

A PCI bus is actually a small bus developed for microcomputers, that was introduced by Intel in 1993. Data transfer takes place at 132 MBPS, and a maximum of 10 […]

Any device that can be connected to the computer for input, output or communication functions. Examples include printer, scanner, keyboard, mouse, etc.

Circumlocution ; use of many words to express the sense of one.

To come to an eud; to cease to be; to die. PERISHA3LE ordinarily means subject to speedy and natural decay. But. where the time contemplated is necessarily long, the terra […]

A reference to the fact that services cannot be stockpiled, or produced before they are to be consumed. Meaning they will be present only during the production phase.

Any item which has the ability to lose its value if it is not properly stored, or used up within a given period.

Any commodity which might get spoiled after a week of proper handling and shipping conditions.

In criminal law . The willful assertion as to a matter of fact , opinion, belief, or knowledge, made by a witness in a judicial proceeding as part of his […]

Bonuses, or extra incentives that are given to employees exclusive of their salaries. For instance, an employee gets a credit card and a car from the company, as a ‘perk’.

PERL is a programming language which is used to create applications and programs that focus heavily upon Computer Graphics Interaction. A number of different tasks can be handled by PERL. […]

Fixed, enduring, abiding, not subject to change. Generally opposed in law to “temporary.”

a term given to a person’s legal residence .

a term that is applied to the court granted allowance to a spouse who is legally divorced or separated.