COMMITMENT BASED ACCOUNTING Definition

Bookmark and Share

COMMITMENT BASED ACCOUNTING is where spending controls are enacted that ensures that no budget executor can exceed his annual appropriation.

Learn new Accounting Terms

PERIOD COST is an expense that is not inventoriable; it is charged against sales revenues in the period in which the revenue is earned (e.g., SG&A is a period cost). Also called period expense.

PLANT ASSET is a non-current physical asset applicable to manufacturing activities.

Suggest a Term

Enter Search Term

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