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Accounting Estimate
An approximation of a financial statement element, item, or account in the absence of exact data.
Prospective Approach
A method of accounting that applies new standards or changes in accounting policy to transactions occurring after the date of the change or standard implementation.
Debit
An entry on the left side of an account, representing an increase in assets or expenses, or a decrease in liabilities, equity, or revenue.
Increase
An uptick or rise in a statistical value or quantity.
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