The accounting world is full of an overwhelming amount of financial terminology and abbreviations. The number of accounting terms can confuse the most astute business owner. How can you make sure you are meeting all of your legal obligations if you don’t understand what any of it means? Many business owners will be very familiar with a lot of the accounting terms, but not what they mean. With that in mind, we have created a quick guide to de-bunk the most popular terms. A Account A formal record that represents a single aspect of the business i.e. money, assets or resources. […]
