BROUGHT FORWARD Definition

Bookmark and Share

BROUGHT FORWARD is the recognition of a value that was determined in the past, e.g. an accumulated balance brought forward at the start of a new accounting period.

Learn new Accounting Terms

LESSEE is the party to whom the possession of specified property has been conveyed for a period of time in return for rental payments.

PROFIT AND LOSS STATEMENT (P&L) is also known as an income statement. It shows your business revenue and expenses for a specific period of time. The difference between the total revenue and the total expense is your business net income. A key element of this statement, and one that distinguishes it from a balance sheet, is that the amounts shown on the statement represent transactions over a period of time while the items represented on the balance sheet show information as of a specific date (or point in time).

Suggest a Term

Enter Search Term

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