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Accounting 101
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Accounting Glossary
- Accounting 101
- Accounting Software
- Accounts Payable
- Accounts Receivable
- Accrual Accounting
- Adjusted Trial Balance
- Amortization
- Audit
- Bad Debt Expense
- Balance Sheet
- Bank Reconciliation
- Benefits
- Bonds Payable
- Book Value
- Capital Asset
- Cash Basis Accounting
- Cash Flow
- Cash Flow Statement
- Chart of Accounts
- Class Tracking
- Comprehensive Income
- Contingent Liability
- Contractor vs Employee
- Cost of Goods Sold (COGS)
- Cost of Sales
- CPA, Controller, CFO
- Credits and Debits
- Current Ratio
- Debt to Equity Ratio
- Deferred Revenue
- Depreciation schedule
- Direct Cost
- Double-Entry Bookkeeping
- Earnings Before Interest and Taxes (EBIT)
- Equity
- Financial Reviews
- Fiscal Policy
- Fiscal Year
- Fixed Cost
- GAAP
- General Ledger
- Gross Margin
- Gross Profit
- How to Calculate Income
- Income Statement
- Indirect Cost
- Internal Control
- Inventory
- Journal Entry
- Liability
- Liquidity
- Modified Adjusted Gross Income
- Monetary Policy
- Net Income
- Operating Expenses
- Operating Margin
- Payroll Taxes
- Prepaid Expense
- Profit Margin
- P&L Statement
- Retained Earnings
- Return on Investment (ROI)
- Revenue Recognition
- Sales Revenue
- Straight-Line Depreciation
- Tax Liability
- Trial Balance
- Unearned Revenue
- Variable Cost
- Variance Analysis
- Wage Expense
- Working Capital
- Write-Off
- Yield
- Zero-Based Budgeting (ZBB)
Accounting 101
No matter what size your business, understanding the basics of accounting is incredibly useful.
Accounting is simply the process of recording, analyzing, and interpreting a business’s financial information. It's used to keep track of financial operations, meet obligations, and make better business decisions. It is a necessary part of running a business and has a unique set of terminology you should know. These are the ones on which you can build your knowledge of business accounting.
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