Accounting Terms - B Definitions

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Accounting Words - B Terms

Bad Debt: An account or receivable that has been deemed unrecoverable and written-off.

Badwill (Negative Goodwill): The excess amount of fair value of an asset or assets over the purchase price.

Balance Sheet: A statement listing the total assets, liabilities, and owners' equity; indicating the net worth of the company for the given time period.

Bonds Payable: A long-term liability that represents a promise to pay a sum of money plus interest at a maturity date (a designated date in the future).

Book Value of an Asset: Cost of the asset (the amount that was paid for it) minus accumulated depreciation.

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