ASSUMPTION Definition

Bookmark and Share

ASSUMPTION, generally, is one or more beliefs or unconfirmed facts that contribute to a conclusion. Specifically, it is the act of taking on the responsibility or assuming the liabilities of another.

Learn new Accounting Terms

INTEGRATED FINANCIAL MODEL is normally a spreadsheet based financial model that integrates all projected revenues and costs from all activity into financial performance pro-forma projections over time. Dependent upon the complexity of the model, the output can be at a very high level (non-complex) to highly granular output (higher degree of complexity).

MEMOS written records supporting journal entries. Credit memos support credits, while debit memos support debit entries. See Memo Entry.

Suggest a Term

Enter Search Term

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