Formal language component

Double-entry

the concept of debits and credits is central to accounting, and the rules governing their application can be viewed as a type of formal language.

>>> pip install cpanlp

Cash Basis

The formal language of the cash basis accounting method includes the recognition of revenue when cash is received and the recognition of expenses when cash is paid out. This method is simple and straightforward, making it popular with small businesses and individuals who do not have complex accounting needs. To retrieve a list of random ingredients, you can use the Sale() class:

The kind parameter should be either "meat", "fish", or "veggies". Otherwise, lumache.get_random_ingredients() will raise an exception.

For example:

>>> import cpanlp as p
>>> sale1 = p.Sale(quarter="Q4",amount=93.4,unit="billion dollars",growth_rate=13%,year=2022,segment="North America")
['shells', 'gorgonzola', 'parsley']

Accrual Basis

The formal language of the accrual basis accounting method includes the recognition of revenue when it is earned, regardless of whether or not the cash has been received, and the recognition of expenses when they are incurred, regardless of whether or not the cash has been paid out.

For example:

>>> gold_asset = p.Asset(account="gold", debit=1000,date="2023-01-01")
>>> print(gold_asset.bubble)

GAAP

The formal language of GAAP includes standardized financial reporting formats such as balance sheets, income statements, and cash flow statements, as well as specific terms and concepts such as assets, liabilities, equity, revenues, expenses, and gains/losses. GAAP also includes specific rules and guidelines for how financial information should be recorded and reported, including rules related to depreciation, inventory valuation, and revenue recognition.

IFRS

The formal language of IFRS includes standardized financial reporting formats such as balance sheets, income statements, and cash flow statements, as well as specific terms and concepts such as assets, liabilities, equity, revenues, expenses, and gains/losses.

Fair Value

The formal language also includes specific terminology and concepts related to fair value, such as market comparables, discounted cash flows, and replacement costs.

Cost Value

The formal language of cost value accounting includes specific rules and guidelines for how to determine and report the cost of assets and liabilities, as well as the use of specific terminology and concepts related to cost value, such as purchase price, production cost, and related transportation, installation, and debugging expenses. The formal language also includes specific rules and guidelines for how to calculate depreciation, amortization, and impairment losses based on cost values.