ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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BUFFER is anything that stands between two other things. For example, an inventory buffer would be additional inventory over and above committed or planned inventory. The inventory buffer will act as an inventory reserve to ensure that sufficient inventory is available when and if required, i.e., the buffer inventory stands between committed inventory and out-of-stock status.
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REPLACEMENT COST NEW is the current cost of a similar new property having the nearest equivalent utility to the property being valued.
LEASEHOLD is an agreement between the lessee and lessor specifying the lessees rights to use the leased property for a specific purpose and given time at a specified rental payment.