Glossary – Accounting

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There are 4 names in this directory beginning with the letter Q.
Qualitative characteristics
In accounting the qualitative characteristics include relevance, reliability, comparability, and consistency.

Quality of earnings
Earnings are said to be of a high quality if the accounting policies are conservative. One indication is that the cash flows from operating activities shown on the statement of cash flows consistently exceed the amount of net income shown on the income statement.

Quantity variance
In standard costing, the quantity variance could be the direct materials’ usage variance or the direct labor’s efficiency variance. The quantity variance is the difference between the quantity of inputs that were actually used versus the quantity of inputs that should have been used to manufacture the period’s output.

Quick ratio
Also known as the acid test ratio. This ratio compares the amount of cash + marketable securities + accounts receivable to the amount of current liabilities.
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