A liability is a financial obligation or debt owed. Liabilities are key elements on every company’s balance sheet, and therefore, important to stock and bond investors. Learn more. In finance and ...

Debt comes in many forms like mortgages, student loans, credit cards and national debt. It can be advantageous or detrimental to personal, corporate or national finances. Some try to evade debt at all ...

Asset management is an integral part of accounting basics that deals with the monitoring and maintenance of valuable items owned by an individual or an entity. Assets contribute significantly to the ...

ALLOCATION - The assignment and reassignment of a cost or group of costs to one or more cost objectives based on a reasonable standard. Terms with assorted shades of meaning are cost reallocation, ...

Long-term debt (also called long-term liabilities) is a financial obligation that extends past a 12-month period. This is the opposite of short-term liabilities, which are loans due within a year. Let ...