SISTER COMPANY Definition

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SISTER COMPANY is similar to the way in which a family is structured, two or more sister companies (sibling) share the same Parent Company or individual owner. Like a Subsidiary, it is a separately incorporated business.

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CONTROLLABLE COST see CONTROLLABLE EXPENSE.

CHART OF ACCOUNTS is a list of ledger account names and associated numbers arranged in the order in which they normally appear in the financial statements. The Chart of Accounts are customarily arranged in the following order: Assets, Liabilities, Owners Equity (Stockholders Equity for a corporation), Revenue, and Expenses.

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