Examlex
Many states refer to the forcible entry into a building or home or simply the illegal entry of a home or building with the intent to commit a felony to be the act of burglary. What is another term used by some states that has the same meaning?
LIFO Reserve
The difference between the cost of inventory calculated using the Last In, First Out method and the First In, First Out method, reflecting the impact of inflation on inventory valuation.
Balance Sheet
A summary document detailing a firm's assets, liabilities, and equity held by shareholders at a certain moment.
Cumulative Effect
The total impact of one or more changes in accounting policies or corrections of errors made in previous years, reflected in the current year's financial statements.
Just-In-Time Inventory
A strategy that companies use to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, thereby reducing inventory costs.
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