Accrual
An accounting entry that records revenues earned or expenses incurred that haven’t been received or paid yet. Accruals ensure that financial statements reflect all relevant activity for a given accounting period, even if cash hasn’t moved. Think unpaid bills or earned-but-uninvoiced income.
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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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