ORDER Definition

Bookmark and Share

ORDER is a listing of goods or services requested from a supplier with specifications and desired delivery method.  A company starts the purchase process internally with a requisition, which results in an order being transmitted to a supplier.  When the supplier ships the goods or provides the service, an invoice is sent to the customer telling the customer the specifications, delivery method, and price of those goods or services.

Learn new Accounting Terms

PREMISE OF VALUE is an assumption regarding the most likely set of transactional circumstances that may be applicable to the subject valuation; e.g. going concern, liquidation.

WORKING CAPITAL (WC) is current assets minus current liabilities; also called net current assets or current capital. It measures the margin of protection for current creditors. It reflects the ability to finance current operations.

Suggest a Term

Enter Search Term

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