Search results
Chart of Accounts: A list of all the accounts of a business and their numbers, arranged according to their order in the ledger. Closing the 'books': A term used to describe the journal entries necessary to close the sales and expense accounts of a business at year end by posting their balances to the Profit and Loss account,
26 lip 2021 · Accounting terminology can be confusing, especially for new business owners. Use this FinancePal guide to accounting terms to help you get some clarity.
Personal Identifiable Information (PII) Data that can be used to identify an individual, including name, identification number, address, and personal characteristics.
This A-to-Z glossary defines key accounting terms you need to know. Accountants possess a wide range of skills critical for financial management and reporting. They maintain financial records, analyze data, offer financial insights, ensure compliance, prepare reports, support audits, provide financial advice, and utilize technology to optimize ...
Read 2,651 Testimonials. AccountingCoach.com's accounting dictionary defines accounting terms in a way that is easy for anybody to understand.
Chart of accounts. A list of each account needed to manage the business, and a corresponding account number. Credit entries are posted on the right side of each journal entry. Liability and revenue accounts are increased with a credit entry, with some exceptions. Current assets. Cash, and assets that will be converted into cash within 12 months.
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.
