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Accounting dictionary is a continually expanding collection of over accountancy terms, abbreviations and definitions. The documents, which communicate these findings about the performance of an organisation in monetary terms, are called financial statements. Short term or current financial obligations that are created through the purchase of. Accounting basics a this basic underlying accounting principle requires that some expenses and liabilities be accrued or deferred. Glossary of business terms adjective adj headwords for adjectives followed by information in square brackets only before a noun and not before a noun show any restrictions on where they can be used. Download fileaccounting is also known by the name of accountancy. Gj a book or original entry in a doubleentry system. Learn about the most important principles of accounting concepts such as bookkeeping, the double entry system, accruals and matching principles, how to prepare financial statements, and more. The american institute of certified public accountant has defined financial accounting as. Were here to help with this handy list that defines the most common accounting terms. Accounting basics for beginners accounting basics for beginners module 1. He is the sole author of all the materials on accountingcoach. In class or at a business meeting, you are likely to hear an accounting term that is.
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