ABSORB Definition

Bookmark and Share

ABSORB is to assimilate, transfer or incorporate amounts in an account or a group of accounts in a manner in which the first entity loses its identity and is "absorbed" within the second entity. For example, see ABSORPTION COSTING.

Learn new Accounting Terms

CASH RECEIPTS see RECEIPTS.

LITIGATION RISK is an assessment of the likelihood or probability that legal action may be taken, e.g. auditors may encounter an unacceptable level of litigation risk on an assignment where the client has possibly been involved with fraudulent financial reporting.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.