General accounting

General accounting

Use this category for general accounting terms.

Industry: Accounting

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General accounting

revenue recognition

Accounting; General accounting

The revenue recognition principle is a cornerstone of accrual accounting together with matching principle. They both determine the accounting period, in which revenues and expenses are recognized.

general ledger

Accounting; General accounting

A general ledger is a book containing all the accounts for recording transactions relating to a company's assets, liabilities, owners' equity, revenue, and expenses.

forensic accounting

Accounting; General accounting

Forensic accounting or financial forensics describes the niche area of accounting that conducts financial audits for court settings.

apportionment

Accounting; General accounting

The division of costs among two or more cost centers in proportion to estimated benefit on some sensible basis. Apportionment is for shared costs.

asset value

Accounting; General accounting

A term which expresses the money amount of assets less liabilities of a company attributable to one ordinary share.

creditors

Accounting; General accounting

Those persons, firms or organizations to whom the enterprise owes money.

To facilitate tax collection, some countries have laws requiring all sellers of goods and services to use cash register software that meets certain requirements. Tills equipped with such software are ...