The period of time for which operating and financial statements are regularly prepared. The prescribed accounting period for the Department of Commerce is the calendar month, with provisions for quarterly and annual reports.

An obligation for goods/services that have been received by September 30 but not paid.

The method of accounting in which revenues are recognized in the period earned and costs are recognized in the period incurred, regardless of when payment is received or made.

Unbilled amounts earned by others during a given period which are not yet due.

Any item of economic value, either physical in nature (such as land or buildings) or a right to ownership, as expressed in cost or some other value, owned by an individual or entity.

A review of (1) the operating, administrative, and financial activities of an agency for conformance with all legal and administrative requirements and conformance with the principles of economy and efficiency; or (2) selected claims, cost proposals, grants, loans, or similar agreements entered into by an agency for conformance with the principles of economy and efficiency.

An action which will ultimately result in an obligation to the Government if carried through, such as purchase orders, estimated travel orders, or unsigned contracts.

The financial measure of resources consumed in accomplishing a specific purpose such as performing a service, carrying out an activity, or completing a unit of work or a specific project.

A downward adjustment of previously recorded obligations.

Represents the amount of checks issued and electronic fund transfers, cash or other payments made.

A uniform classification identifying the transactions of the Government by the nature of the goods or services purchased.

The amounts of orders placed, contracts awarded, or services received , which will require outlays during the same or future periods.

The amount of obligations already incurred for which payment has not yet been made. This balance can be carried forwarded indefinitely until the obligations are paid.

The amounts of orders placed, contracts awarded, or services received , which will require outlays during the same or future periods.

The value of goods and services ordered and obligated, but which have not been received.

The amount of budget authority unspent and still available; the sum of the obligated and unobligated balances.

Amounts committed for a specific purpose for which there has been no disbursement of funds.

The portion of budget authority that has not yet been obligated.