An outstanding cheque is one that has been issued but has not yet been presented to the bank for payment, causing a discrepancy between the cash book and bank statement.

An uncredited deposit is a deposit made by the business but not yet reflected in the bank statement.

Bank charges reduce the cash book balance since the charges are typically recorded by the bank but not yet reflected in the cash book.

Off-balance sheet items are financial obligations or assets that do not appear directly on the balance sheet, such as leases, contingent liabilities, or certain financial arrangements.

Long-term debt is a financial obligation that appears directly on the balance sheet, while operating leases, contingent liabilities, and SPEs are examples of off-balance sheet items.

Companies use off-balance sheet financing to keep liabilities off their balance sheets, which can make them appear less risky or more financially stable.

SPEs are often used to manage financial risk, hide liabilities, or improve tax positions. They allow companies to keep certain assets and liabilities off the balance sheet.

A financial guarantee contract is often disclosed as an off-balance sheet item because the company may only need to recognize a liability if the guarantee is called.

Variable costs change directly with the level of production, such as raw materials, direct labor, and energy usage.

Semi-variable costs are costs that have both fixed and variable components, such as utilities, where there is a base charge plus a variable cost depending on usage.