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A & M trust

Overview page. Subjects: Financial Institutions and Services — Accounting.

Abbreviation for accumulation and maintenance trust. See discretionary trust; *18–25 trust.

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abbreviated accounts

Overview page. Subjects: Accounting.

A shorter form of annual accounts that may be filed by a company qualifying as a small or medium-sized company under the Companies Act. The use of abbreviated accounts can cut costs and...

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ABMTN

Overview page. Subjects: Financial Institutions and Services — Accounting.

Abbreviation for asset-backed medium-term note.

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abnormal loss

Overview page. Subjects: Accounting.

The loss arising from a manufacturing or chemical process through abnormal waste, shrinkage, seepage, or spoilage in excess of the normal loss. It may be expressed as a weight or volume or...

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above-the-line

Overview page. Subjects: Accounting.

Denoting those entries printed above the horizontal line on a company’s profit and loss account that separates the profit (or loss) from the entries showing how the profit is distributed. C...

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absorb

Overview page. Subjects: Accounting.

To assimilate or incorporate amounts in an account or a group of accounts so that they are absorbed and lose their identity. See absorption costing.

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absorbed overhead

Overview page. Subjects: Accounting.

The amount of the overhead of an organization charged to, or borne by, the production of that organization for the accounting period under consideration when the technique of absorption...

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absorption

Overview page. Subjects: Accounting.

An accounting process used in absorption costing in which the overhead of an organization is borne by the production of that organization by the use of absorption rates.

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absorption account

Overview page. Subjects: Accounting.

An account opened when a system of double-entry cost accounting is in operation to show the amount of overhead that has been absorbed by the production.

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absorption costing

Overview page. Subjects: Accounting.

The cost accounting system in which the overheads of an organization are charged to the production by means of the process of absorption. Costs are first apportioned to cost centres, where...

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