HOME EQUITY LOAN Definition

Bookmark and Share

HOME EQUITY LOAN is a type of loan in which the borrower uses the equity in their home as collateral. These loans are sometimes useful to help finance a business, major home repairs, medical bills or college education.

Learn new Accounting Terms

DIRECT LABOR RATE VARIANCE reveals the difference between the standard rate and actual rate for the actual labor hours worked [(standard rate - actual rate) X actual hours].

ACCOUNT-CLASSIFICATION METHOD, also called account analysis, is a cost estimation method that requires a study of an account in the general ledger. The experienced analysts use the account information as well as their own judgment to determine how costs will behave in the future.

Suggest a Term

Enter Search Term

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