Accounting Terms

Accrued Expenses
Accrued expenses is an expense which is due but not paid during current accounting period.
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Accounting Period – Reporting period
Accounting Period means, one accounting cycle in which any business maintains their records; and performance get reviewed and reported
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Accounting Concepts
The standards and set guidelines to perform accounting activities is called as Accounting Concepts or Accounting Conventions. Accounting concepts are
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Accountancy
Accountancy is an act of accountant, who does accounting (after Book Keeping) which involves Recording, Classifying & Summarizing business activities
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Zero Balance
Zero balance means account have zero balance
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Bookkeeping
Recording business activities systematically which can be communicated effectively OR It’s a technique of recording, classifying and summarizing business activities
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Accounting
We all love Accounting!
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