ACCOUNTING CONVENTION see CONVENTION.
ALLOCATE is to distribute according to a plan or set apart for a special purpose. Examples: a. spread a cost over two or more accounting periods; b. charge a cost or revenue to a number of departments, products, processes or activities on a rational basis.
VALUATION ALLOWANCE/RESERVE is an allowance to provide for changes in the value of a companys assets, such as depreciation or if an asset is deemed impaired.
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