Accounting Glossary. Account Payable. Amount owed to a CREDITOR for delivered goods or completed services. Account Receivable. Claim against a DEBTOR for an ...

Accounting method: An accounting method refers to the rules a company follows in reporting incomes and expenses. The two primary methods of accounting are ...

Creditors: A list of suppliers to whom the business owes money. Also known as Payables or Accounts Payable. Current Assets: These include money in the bank, ...

This glossary includes those terms that business owners will encounter when interpreting their accounts or reviewing their financial information with their ...

The American Institute of Certified Public Accountants. (AICPA) has prepared this collection of definitions of account ing and financial terms to help ...

Of the utmost importance. • The most comprehensive pocket-size dictionary. • Easy-to-understand definitions. • Written by a leading authority in ...

Glossary of Accounting Terms. Account: A record that holds the results of ... Invoice: An itemized list of goods shipped or services rendered with cost.

ACCOUNTING DICTIONARY. 1. ACCOUNTING DICTIONARY. A. Account a record summarizing all the information pertaining to a single item in the accounting equation.

Accountants are responsible for the preparation of financial statements such as income statements and statements of financial position.

In the following guide, we demystify key accounting definitions and terms, making it easier for you to navigate this important financial aspect. Page 2. © 2023, ...