Accounting System
The tools and processes a business uses to record, organize, and report financial data. It can be manual or digital, but it must support accurate bookkeeping, compliance, and decision-making. Good systems help track income, expenses, assets, and liabilities in real time.
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Aging Schedule
An aging schedule categorizes accounts receivable based on how long invoices have been outstanding. It groups accounts by time intervals…
Adjusted Trial Balance
An adjusted trial balance is a financial report that reflects all adjustments made after the initial trial balance. These adjustments…
Activity-Based Costing (ABC)
Activity-Based Costing (ABC) assigns overhead costs to specific activities that contribute to the production of goods or services, providing a…
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