O - Acounting Glossary
Accounting definitions.
Source: Wikipedia.org
OBERAC
The initials OBERAC stand for: 'operating balance
excluding revaluations and accounting changes'.
Operating expense
In throughput accounting, the cost accounting
aspect of Theory of Constraints (TOC), operating
expense is the money spent turning inventory into
throughput. In TOC, operating expense is limited
to costs that vary strictly with the quantity
produced, like raw materials and purchased components.
Everything else is a fixed cost, including labour
unless there is a regular and significant chance
that workers will not work a full-time week when
they report on its first day.
Owners equity
Owners equity, commonly known simply as equity,
also risk or liable capital, is a financial term
for the difference between a company's assets
and liabilities -- that is, the value that accrues
to the owners (sole proprieter, partners, or shareholders).
In a corporation, it is called shareholders' equity.
In bankruptcy, ownership equity is the last or
residual claim against assets, paid only after
all other creditors are paid.
