APPLICABLE FINANCIAL REPORTING FRAMEWORK Definition

Bookmark and Share

APPLICABLE FINANCIAL REPORTING FRAMEWORK is the financial reporting framework adopted in the preparation of the financial statements that is acceptable in
view of the nature of the entity and the objective of the financial statements, or that is required by law or regulation.

Learn new Accounting Terms

CREDIT CARD RECEIPTS is sales revenue where payment has been made through the use of recognized/authorized credit cards versus cash or check receipts/payments.

ORDER is a listing of goods or services requested from a supplier with specifications and desired delivery method.  A company starts the purchase process internally with a requisition, which results in an order being transmitted to a supplier.  When the supplier ships the goods or provides the service, an invoice is sent to the customer telling the customer the specifications, delivery method, and price of those goods or services.

Suggest a Term

Enter Search Term

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