LESS THAN CONTAINER LOAD Definition

Bookmark and Share

LESS THAN CONTAINER LOAD (LCL) is a shipment in which the freight does not completely fill the container; or a particular consignors freight when combined with others to produce a full container load.

Learn new Accounting Terms

DEPRECIATION ALLOCATION is the allocation of the cost of capital expenditures so that revenue is matched with expenses for items that will last more than one year (land is not depreciable). The methodology is to allocate plant and equipment cost to expense through the use of accelerated, straight line and units of production amortization methods; as well as the disposal of assets; and, repairs and betterments to assets.

MATERIAL WEAKNESS is a condition that could potentially result in the material misstatement of the financial statements.

Suggest a Term

Enter Search Term

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