Codes of Conduct Developed by the Institute of Management Accountants

question 115

Short Answer

Codes of conduct developed by the Institute of Management Accountants IMA) for management accountants

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Definitions:

Loss

A financial condition indicating that expenses have exceeded revenues over a certain period, leading to negative profit.

Disposal

Disposal involves getting rid of something, typically waste or assets no longer needed or useful for the business.

Goodwill

The value of all favorable attributes that relate to a company that is not attributable to any other specific asset.

Book Value

The net value of a company's assets minus its liabilities and intangible assets, often used to evaluate a company's worth.