Examlex
What is the medical term for a severe mathematics disability?
Construction in Progress Account
An account in the balance sheet that accumulates costs related to the construction of a long-term asset until the asset is ready for use, at which point the total cost is transferred to the fixed assets account.
GAAP
Generally Accepted Accounting Principles, which are a collection of commonly-followed accounting rules and standards for financial reporting.
Research and Development
The investigative activities a business conducts to improve existing products and procedures or to lead to the development of new products and procedures.
Write-down
An accounting procedure reducing the book value of an asset when its market value drops below the recorded cost, resulting in a non-cash expense.
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