Accounting Estimate

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Definition: Accounting Estimate

Accounting Estimate
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Full Definition of Accounting Estimate

An approximation in a financial statement of the amount to be credited or debited on items for which there is no precise means of measurement, such as depreciable assets or provisions for a loss from a lawsuit. Estimates are based on the judgment and specialized knowledge derived from past experience.

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To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

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https://payrollheaven.com/define/accounting-estimate/
Modern Language Association (MLA):
Accounting Estimate. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
April 16, 2024 https://payrollheaven.com/define/accounting-estimate/.
Chicago Manual of Style (CMS):
Accounting Estimate. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/accounting-estimate/ (accessed: April 16, 2024).
American Psychological Association (APA):
Accounting Estimate. PayrollHeaven.com. Retrieved April 16, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/accounting-estimate/

Definition Sources

Definitions for Accounting Estimate are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.