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  2. Generally Accepted Accounting Principles (United States)

    en.wikipedia.org/wiki/Generally_Accepted...

    Generally Accepted Accounting Principles (GAAP) [a] is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC), [1] and is the default accounting standard used by companies based in the United States.

  3. Operating expense - Wikipedia

    en.wikipedia.org/wiki/Operating_expense

    In TOC, operating expense is limited to costs that vary strictly with the quantity produced, like raw materials and purchased components. Everything else is a fixed cost , including labour (unless there is a regular and significant chance that workers will not work a full-time week when they report on their first day).

  4. Free cash flow - Wikipedia

    en.wikipedia.org/wiki/Free_cash_flow

    In financial accounting, free cash flow (FCF) or free cash flow to firm (FCFF) is the amount by which a business's operating cash flow exceeds its working capital needs and expenditures on fixed assets (known as capital expenditures). [1]

  5. Percentage-of-completion method - Wikipedia

    en.wikipedia.org/wiki/Percentage-of-Completion...

    The accounting for long term contracts using the percentage of completion method is an exception to the basic realization principle. This method is used wherein the revenues are determined based on the costs incurred so far. The percentage of completion method is used when: Collections are assured; The accounting system can: Estimate profitability

  6. Accounting Standards Codification - Wikipedia

    en.wikipedia.org/wiki/Accounting_Standards...

    Before the Codification, accounting standards lacked a consistent and logical structure. For the last 50 years, U.S. GAAP consisted of thousands of standards with multiple standard setters. The old U.S. GAAP were difficult to interpret, and the complexity of the standards made it hard for users to stay up to date.

  7. International Financial Reporting Standards - Wikipedia

    en.wikipedia.org/wiki/International_Financial...

    Operating cash flows: the principal revenue-producing activities of the entity and are generally calculated by applying the indirect method, whereby profit or loss is adjusted for the effects of transaction of a non-cash nature, any deferrals or accruals of past or future cash receipts or payments, and items of income or expense associated with ...

  8. Gross operating surplus - Wikipedia

    en.wikipedia.org/wiki/Gross_operating_surplus

    In the national accounts, gross operating surplus [1] (GOS) is the portion of income derived from production by incorporated enterprises that are earned by the capital factor. It is calculated as a balancing item in the generation of income account [ 2 ] of the national accounts.

  9. Throughput accounting - Wikipedia

    en.wikipedia.org/wiki/Throughput_accounting

    Throughput Accounting reports what currently happens in business functions such as operations, distribution and marketing. It does not rely solely on GAAP's financial accounting reports (that still need to be verified by external auditors) and is thus relevant to current decisions made by management that affect the business now and in the future.

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