ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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ACCOUNT-CLASSIFICATION METHOD Definition
ACCOUNT-CLASSIFICATION METHOD, also called account analysis, is a cost estimation method that requires a study of an account in the general ledger. The experienced analysts use the account information as well as their own judgment to determine how costs will behave in the future.
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PAYROLL, dependent upon usage, can mean a. the total amount of money paid in wages; b. a list of employees and their salaries; or, c. the department that determines the amounts of wage or salary due to each employee.
MODIFIED ACCELERATED COST RECOVERY SYSTEM (MACRS) is a system used in accounting to define the rate and method under which a fixed asset will be depreciated for tax purposes.