ACCOUNT-CLASSIFICATION METHOD Definition

Bookmark and Share

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.

Learn new Accounting Terms

SFAS is Statement of Financial Accounting Standards or Statewide Fixed Assets System.

LEMON is a. an investment with a poor or negative rate of return or a purchase made where the product has continuing problems, e.g. a lemon of an automobile; or, b. an asset that is in continual need of repair, e.g. an automobile can be referred to as a lemon.

Suggest a Term

Enter Search Term

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