TOP DOWN Definition

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TOP DOWN is a concept of analyzing a subject, such as costs or revenue, starting from the highest level working towards the bottom.

Learn new Accounting Terms

AIS is Accounting Information System.

YEAR-END ADJUSTMENT is the process of adjusting the entry to an account at the end of the calendar or fiscal year in order to properly state it for financial statement preparation purposes. The various  required adjustments include accrual or deferral of a revenue or expense item, reclassification, to conform book figures to physical inventory counts, and reflecting unusual transactions.

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