General accounting

General accounting

Use this category for general accounting terms.

Industry: Accounting

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General accounting

liabilities

Accounting; General accounting

Obligations of an entity to transfer economic benefits as a result of past transactions or events.

inventory turnover

Accounting; General accounting

The relationship between the volume of goods sold and inventory, computed by dividing the cost of goods sold by the average inventory.

quick assets

Accounting; General accounting

Cash and other current assets that can be quickly converted to cash, such as marketable securities and receivables.

Cssh reserves that is not of a particular use. Unrestricted cash represents instant reserves, as it can be used for any purpose and it's just cash. Often, in order to satisfy debt covenants, firms ...

FIFO and LIFO accounting

Accounting; General accounting

FIFO and LIFO Methods are accounting techniques used in managing inventory.

trade credit

Accounting; General accounting

Trade credit is the largest use of capital for a majority of business to business sellers in the US and is a critical source of capital for a majority of all businesses.

double-entry bookkeeping system

Accounting; General accounting

A double-entry bookkeeping system is a set of rules for recording financial information in a financial accounting system in which every transaction or event changes at least two different nominal ...