ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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UNEARNED REVENUE / INCOME Definition
UNEARNED REVENUE / INCOME represents money that you have received in advance of providing the goods or services to your customer. Unearned revenue is a liability of your business until you provide the goods or services you agreed to provide to the customer.
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COST CENTER is a non-revenue-producing element of an organization, where costs are separately figured and allocated, and for which someone has formal organizational responsibility.
DISQUALIFICATION, in the UK, is when a director is found guilty of "unfit" conduct. The director may then be disqualified from holding any management position for 2 to 15 years.