No Cost Business Review;
3 Ways to Increase Profit.
Schedule Yours NOW

Glossary of Accounting Terms Used by Friedlander Advisory Services

Confused by certain terms used on our site? Our original glossary should cover whatever questions you may have about a term or phrase used on this site. However, if you still have questions about avoiding costs and our accounting procedures after examining this glossary, go ahead and <link to contact us page>get in touch with us to have your question taken care of personally.

All A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0 1 2 3 4 5 6 7 8 9

F

Fair Value

The amount at which an asset could be bought or sold in a current transaction between willing parties, other than in liquidation. On the other side of the balance sheet, the fair value of a liability is the amount at which that liability could be incurred or settled in a current transaction between willing parties, other than in liquidation.

Flexible Budget

A very useful tool for comparing actual costs experienced to the cost allowable for the activity level achieved, i.e. it is dynamic in nature as compared to static. A series of budgets can be readily developed to fit any activity level. Flexible budgeting distinguishes between fixed and variable cost, thereby allowing for a budget that can be automatically adjusted to the level of activity actually attained.

Viewing: Record 1-2 of 2

Call Today

(727) 452-4926

Accounting Tampa
P.O. Box 14821
Clearwater, Florida 33766

Accounting Tampa | P.O. Box 14821, Clearwater, Florida 33766 | (727) 452-4926

Website Design & Internet Marketing by Search-Metro.com