[ Q ]
 
 
 
 
Quick assets
 
o         see liquid assets
 
 
 
Quick ratio
 
o         the ratio of liquid assets to current liabilities . A test of liquidity:1 is the general norm

[ P ]
 
 
Parent
 
o         An entity that has one or more subsidiaries.
 
 
Profit
 
o         The residual amount that remains after expenses (including capital maintenance adjustments, where appropriate) have been deducted from income. Any amount over and above that required to maintain the capital at the beginning of the period is profit.
 
Profit or loss for the period
 
o         A separate […]

[ O ]

Operating activities

o The principal revenue-producing activities of an entity and other activities that are not investing or financing activities

Operating cycle

o The time between the acquisition of assets for processing and their realisation in cash or cash equivalents.

Ordinary share

An equity instrument that is subordinate to all other […]

[ N ]
Net realisable value
o The estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale.
o Net realisable value refers to the net amount that an entity expects to realise from the sale of inventory in the ordinary course of business. Fair value […]

[ M ]

Matching of costs with revenues

o A process in which expenses are recognised in the income statement on the basis of a direct association between the costs incurred and the earning of specific items of income. This process involves the simultaneous or combined recognition of revenues and expenses that result directly […]