ENTITY ASSUMPTION is the assumption that financial statements are prepared for an entity that is separate and distinct from its owners.
DEVIATION is the departure from prescribed internal control. Often expressed as a rate at which the departure occurs.
WORKING CAPITAL DAYS OF NET SALES measures how many days of net revenue are tied up in working capital. It is calculated: Working Capital Days of Net Sales = Working Capital / Net Revenue * 365. Low values tend to show problems in ability to support sales while high values may indicate under-capitalization problems.
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