General accounting

General accounting

Use this category for general accounting terms.

Industry: Accounting

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General accounting

management accounting principles

Accounting; General accounting

Management accounting principles (MAP) were developed to serve the core needs of internal business managers.

accountant

Accounting; General accounting

Qualified person who is trained in bookkeeping and in preparation, auditing and analysis of accounts. Accountants prepare annual reports and financial statements for planning and decision making, and ...

accounting period

Accounting; General accounting

Time period for which financial statements are prepared (e.g. month, quarter, year).

bookkeeping

Accounting; General accounting

Systematic recording of financial aspects of business transactions in appropriate books of account.

trial balance

Accounting; General accounting

A Trial Balance is a list of all the General ledger accounts (both revenue and capital) contained in the ledger of a business.

accrual

Accounting; General accounting

Accrual (accumulation) of something is, in finance, the adding together of interest or different investments over a period of time.

matching principle

Accounting; General accounting

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