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Private companies do not use mediation to resolve internal disputes with employees.
Unearned Rent
Income received for renting out property that has not yet been earned because the rental period has not occurred.
Depreciation
The systematic allocation of the cost of a tangible asset over its useful life, reflecting the wear and tear, decay, or decline in value of the asset due to use and passage of time.
Accrual Basis
An accounting method that recognizes revenue when earned and expenses when incurred, regardless of when cash transactions occur.
Net Income
The total revenue of a company minus all expenses and taxes, representing the profit made during a specific period.
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