Terms starting with
Accrual
Processes of recognising income and expenses as they occur, regardless of when the cash comes in or goes out.
READ MOREAccounting System
A structured process for recording, analysing, classifying, and reporting financial transactions.
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A record within a business's general ledger or balance sheet to indicate a transaction.
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An examination of a financial records to preciseness and compliance with local and international standards and regulations.
READ MOREAccrual Basis Accounting
An accounting method, where the revenue and expenses are recorded as they are earned or incurred, regardless of when the cash actually comes in or…
READ MOREAccounts Receivable
AR refers to the amount of money that the business is owed to by its customers for services and products delivered on credit but not…
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AP refers to the short-term debt that business owes to its vendors and suppliers. It's for the goods and services that the business received on…
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The Accounting Period is the duration during which a business records its transactions and prepares financial statements. The duration could be a month, a quarter,…
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