ORDINARY COURSE OF BUSINESS is the actions or results that would logically be expected in the regular or planned operating activities of a business as opposed to extra-ordinary transactions or activities, e.g. trade liabilities, capital asset procurement or revenue and its sources.
DEFERRED, in accounting, is any account where the asset or liability is not realized until a future date, e.g. annuities, charges, taxes, income, etc. The deferred item may be carried, dependent on type of deferral, as either an asset or liability.
YEAR-END is the end of an accounting period; usually a calendar year, but may be a fiscal year. Books are closed at year-end.
Enter a term, then click the entry you would like to view.