MANAGEMENT BUY-OUT is the purchase of a company by its management; usually with the backing of outside investors.
TRUE AND FAIR VIEW is one of the most prominent principles of accounting. It suggests that an enterprise should provide a true and fair view about its financial conditions and operating results. The concept of true and fair view does not mean absolute truth about enterprises. Financial statements are a product of managements judgments and estimates. The principle of true and fair view requires comparative truth about the enterprises picture. True and fair view is rather defined operationally; it is thought to be accomplished by complying with all other lower accounting principles.
RECURRING ENTRY is a scheduled accounting entry that occurs consistently as to date and amount, e.g. a monthly lease payment.
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