ABSORB Definition

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

CURRENCY CODES are the International Standard Organization, (ISO), three letter currency codes.

RELATED PARTY TRANSACTION is an interaction between two parties, one of whom can exercise control or significant influence over the operating policies of the other. A special relationship may exist, e.g. a corporation and a major shareholder.

Suggest a Term

Enter Search Term

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

Purchase and download Glossary
Only $9.95