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Accounting Terms (Z) 164. For personal use by the original purchaser only. ... An expense that has occurred but the transaction has not been entered in the accounting
(1) tracks and analyzes business transactions in total, (2) measures and improves the health of a business, as well as (3) reports financial results to investors, creditors, and regulators.
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Glossary Of Financial and Accounting Terms. IFRS: The Australian equivalent of the International Financial Reporting Standards. These are part of global accounting standards that determine the accounting treatment of items in Annual Reports (published financial statements.)
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Apr 26, 2015 · transactions as they occur (GAAP Method) Cash basis Recognizes transactions when cash or equivalents have been exchanged (Not GAAP) US-GAAP Generally Accepted Accounting Principles system established by FASB that governs financial reporting IFRS International Financial Reporting Standards Financial
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Account: A record that holds the results of financial transactions. Accountant's Equation: The equation that is the basis of the Balance Sheet: Assets = Liabilities + Owners' Equity. Accounting: A service that oversees, measures, and evaluates financial information for decision making purposes.
AccountingCoach.com’s Accounting Cheat Sheet is a quick reference and overview of accounting concepts. You should consult a professional accountant and/or the accounting profession’s oficial pronouncements for specific situations and for more complete information. Financial Statements.
A transaction must be accounted for in the accounting period to which it relates, even if it is actually paid for in a different period. This gives rise to creditors – where an item is bought but not paid for until a later period – and debtors – where an item is sold but payment is not received until later. See also cash basis. Alphabet shares.