recognition
The process of formally recording a business transaction or event in an entity’s financial accounting records. [...]
parent company
A business entity that owns or controls one or more other companies, typically through the ownership of 50% or more of the voting rights in the compan [...]
matching principle
The accounting principle requiring that all costs of generating revenue be accrued and expensed in the same period as the related revenue. [...]
loss
Cost for which there is no associated economic benefits (revenue), which is incurred when the revenue obtained on a cost is less than that cost. [...]
journal entry
The recording of a transaction or event into a journal, showing the accounts, the amounts to be debited and credited, the date, and an explanation. [...]
gain
The inflow of economic benefits to an entity during an accounting period as a result of transactions and circumstances that do not involve the earning [...]
