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- Here are some common accounting terms12:
- Accounts Payable: Money a business owes to its suppliers, vendors, or creditors for goods or services bought on credit.
- Accounts Receivable: Money owed to a business by its customers, for goods or services delivered.
- Accounting Period: A period of time used to measure the financial performance of a business.
- Accruals: Expenses that have been incurred but not yet paid.
- Accrual-Basis Accounting: A method of accounting that records transactions when they occur, regardless of when payment is received or made.
- Assets: Anything of value that a business owns.
- Balance Sheet: A financial statement that shows a company's assets, liabilities, and equity at a specific point in time.
- Capital: The money invested in a business by its owners or shareholders.
- Cash Flow: The amount of cash that flows in and out of a business.
- CPA: Certified Public Accountant.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.47 Accounting Terms, Words, & Vocabulary
- ● Accounts Payable Money a business owes to its suppliers, vendors, or creditors for goods or services bought on credit; considered a short-term debt. ...
www.financepal.com/blog/accounting-terms-words …25 accounting terms you need to know
- 1. Accounts payable Often abbreviated as AP, the term accounts payable describes all of your unpaid expenses. ...
- 2. Accounts receivable This is the inverse of accounts payable. ...
www.businessnewsdaily.com/9332-accounting-ter… Basic Accounting Terms and General Principles Guide
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Accounting Terms: A to Z Glossary - Coursera
- Accounts Payable. Accounts Payable refers to the money a company owes to its creditors …
- Balance Sheet. The Balance Sheet is a financial statement that provides a snapshot of a …
- Cash Flow. Cash Flow represents the movement of cash into and out of business over a …
- Depreciation. Depreciation is the systematic allocation of the cost of a tangible asset over its …
- Equity. Equity, also known as shareholder's equity or net assets, represents the residual …
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- Accounts receivable (AR) Accounts receivable (AR) definition: The amount of …
- Accounting (ACCG) Accounting (ACCG) definition: A systematic way of …
- Accounts payable (AP) Accounts payable (AP) definition: The amount of …
- Assets (fixed and current) (FA, CA) Assets (fixed and current) definition: …
- Asset classes. Asset class definition: An asset class is a group of securities …
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