13 Terms
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General accounting
Use this category for general accounting terms.
Industry: Accounting
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General accounting
Aging-of-accounts method
Accounting; General accounting
A way to estimate bad debts by analysing individual accounts receivable according to the length of time they have been receivable from the customer.
Account
Accounting; General accounting
Chronological record of changes in the value of an entity's assets, liabilities, and the owners' equity; each of which is represented by a separate page in the ledger. See also accounting equation ...
Accounting equation
Accounting; General accounting
The basic tool of accounting, measuring the resources of the business and the claims to those resources: Assets = Liabilities+ Owner's Equity.
Accounting equation
Accounting; General accounting
The relationship between assets, liabilities and ownership interest.
Amortisation
Accounting; General accounting
Paying off a debt in regular instalments over a period of time.
Accounting cycle
Accounting; General accounting
The sequence of accounting activities performed during an accounting period.
Earnest money
Accounting; General accounting
A deposit paid to show good faith is termed as earnest money in accounting and this deposit enhances affiliation.
