As a layman, or student / student who just entered college semester (one) may be confused about the terms of the economy, especially the term accounting. Here are some accounting terms which may help you understand the term.
1. Account is the accounting records of an organization / demand forecasts in the Bank.
2. Accounting is a system for recording, classification and evaluation of financial transactions undertaken by the company / business.
3. Accounts Payable Accounts Payable is, the company's obligation to another party to purchase goods and services on credit.
4. Recievable Account is Accounts Receivable, which the company bills to its customers for goods and services sold on credit.
5. Accrued Expense is the cost accrued by the end of accounting period.
6. Accumulated depreciation Depreciation is collected for 1 (one) year and the balance to reduce the balance of Fixed assets are depreciated.
7. Adjusting Journal Entry is a post adjusting entries to correct the posts at the end of accounting period.
8. Allowance for Bad debts are the elimination of reserves for doubtful accounts.
9. Assets are assets that property owned by a company.
10. Auditing is a systematic examination of appropriate accounting principles on reports compiled by a company.
11. Balance sheet is a list of a balance sheet showing the financial position of a company on a certain date.
12. Bank Reconciliation is an analysis to identify and take into account all the post that caused the difference between the cash balance according to copies of bank accounts and cash balances according to the company's books.
13. Bank Statement is a report from the Bank's current account each month.
14. Beginning Inventory is beginning inventory.
15. Book of Original Entry is a daily journal.
16. Budgeting is the compilation of cost or financial plans in the company's activities in the future, how to control and evaluate.
17. Capital Statement is a list of the capital, a report on changes in capital of an enterprise during a certain period.
18. Cash Dishbursement Journal is a journal of cash, which is a special book used to record all cash payments.
19. Cash Flow is cash flow, ie each transaction that add or reduce the cash balance.
20. Credit Balance is a credit balance.
1. Account is the accounting records of an organization / demand forecasts in the Bank.
2. Accounting is a system for recording, classification and evaluation of financial transactions undertaken by the company / business.
3. Accounts Payable Accounts Payable is, the company's obligation to another party to purchase goods and services on credit.
4. Recievable Account is Accounts Receivable, which the company bills to its customers for goods and services sold on credit.
5. Accrued Expense is the cost accrued by the end of accounting period.
6. Accumulated depreciation Depreciation is collected for 1 (one) year and the balance to reduce the balance of Fixed assets are depreciated.
7. Adjusting Journal Entry is a post adjusting entries to correct the posts at the end of accounting period.
8. Allowance for Bad debts are the elimination of reserves for doubtful accounts.
9. Assets are assets that property owned by a company.
10. Auditing is a systematic examination of appropriate accounting principles on reports compiled by a company.
11. Balance sheet is a list of a balance sheet showing the financial position of a company on a certain date.
12. Bank Reconciliation is an analysis to identify and take into account all the post that caused the difference between the cash balance according to copies of bank accounts and cash balances according to the company's books.
13. Bank Statement is a report from the Bank's current account each month.
14. Beginning Inventory is beginning inventory.
15. Book of Original Entry is a daily journal.
16. Budgeting is the compilation of cost or financial plans in the company's activities in the future, how to control and evaluate.
17. Capital Statement is a list of the capital, a report on changes in capital of an enterprise during a certain period.
18. Cash Dishbursement Journal is a journal of cash, which is a special book used to record all cash payments.
19. Cash Flow is cash flow, ie each transaction that add or reduce the cash balance.
20. Credit Balance is a credit balance.
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