Unit 7: Vocabulary

To pass this unit, please study the 15 vocabulary words below.
UK
accelerated depreciation
a term used to show that the reduction of an assets value happens faster at the start of its useful life than at the end
UK
Assets like vehicles lose a lot of value in the first year of their life, which is why accelerated depreciation is such a useful tool.
UK
accrual Accounting
an accounting method that measures the performance and position of a company by recognizing economic events regardless of when cash transactions occur
UK
The accountant advised to operate an accrual accounting system for the small start-up, as he said it gave a more accurate picture of the true financial state.

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