Suspense Account
A suspense account is a temporary holding account used when there are uncertainties or discrepancies in transactions. It stores unclassified or incomplete entries until they’re properly identified and posted to the correct accounts. It helps maintain balance in the trial balance while errors are investigated and resolved.
More Items
Sales Revenue
Sales revenue is the total income generated from selling goods or services before deducting any costs or expenses. It’s the…
Service Revenue
Service revenue is income earned from providing services rather than selling physical goods. It is recognised when the service is…
Segment Reporting
Segment reporting breaks down a company’s financial results by business unit, geography, or product line. It enhances transparency and helps…
This website uses cookies to improve your experience. You can accept all or reject non-essential cookies.