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May 12, 2023 · Technical Accounting This accounting principles and national financial reporting standards to inform decisions on topics such as mergers, acquisitions, divestitures, and capital investments. Technical accounting also helps companies assess their financial position to ensure accurate financial reports.
From understanding assets and liabilities to deciphering income statements, this glossary will enhance your knowledge and empower you to make informed financial decisions. If you cannot find the bookkeeping terms or definitions you need, please contact us, and we will try and add them.
Bookkeeping TermsDescription Of Bookkeeping TermsMoney owed from a customer for a sales ...AccountingProcess of keeping the business financial ...AccountsThe financial statement of a business in ...Accounts PayableMoney owed to a supplier from bills or ...Jul 9, 2024 · Presented in alphabetical order, this glossary of accounting terms covers essential basics and key concepts. You can look up individual terms, or read the guide from start to finish for a quick crash course in accounting fundamentals.
- In its most basic sense, accounting describes the process of tracking an individual or company's monetary transactions. Accountants record and anal...
- Basic accounting concepts used in the business world cover revenues, expenses, assets, and liabilities. These elements are tracked and recorded in...
- Introduction to accounting frequently identifies assets, liabilities, and capital as the field's three fundamental concepts. Assets describe an ind...
- Certified public accountants and management accountants are two of the profession's most common specializations. Management accountants are also kn...
- Accounts Payable. Accounts Payable refers to the money a company owes to its creditors or suppliers for goods and services purchased on credit. It represents a liability on the company's balance sheet until payment.
- Balance Sheet. The Balance Sheet is a financial statement that provides a snapshot of a company's financial position at a specific time. It presents the company's assets, liabilities, and shareholders' equity, enabling stakeholders to assess its financial health.
- Cash Flow. Cash Flow represents the movement of cash into and out of business over a specific period. It provides insights into a company's ability to generate cash and meet its financial obligations.
- Depreciation. Depreciation is the systematic allocation of the cost of a tangible asset over its useful life. It reflects the asset's value decrease due to wear and tear, obsolescence, or other factors.
- Accounts receivable (AR) Accounts receivable (AR) definition: The amount of money owed by customers or clients to a business after goods or services have been delivered and/or used.
- Accounting (ACCG) Accounting (ACCG) definition: A systematic way of recording and reporting financial transactions for a business or organization.
- Accounts payable (AP) Accounts payable (AP) definition: The amount of money a company owes creditors (suppliers, etc.) in return for goods and/or services they have delivered.
- Assets (fixed and current) (FA, CA) Assets (fixed and current) definition: Current assets (CA) are those that will be converted to cash within one year.
Jul 26, 2021 · Accounting terminology can be confusing, especially for new business owners. Use this FinancePal guide to accounting terms to help you get some clarity.
With its authoritative and straightforward definitions and its wide-ranging coverage, this dictionary is essential for students and professionals in accounting and finance. It is also an ideal source of reference for anyone seeking a clear guide to the often-confusing world of accountancy terms.
