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Accrual is the addition of interest and different investments over a period of time. Accrual also refers to account done on a balance sheet that represents ...

Accounts Receivable is a claim for payment held by a business for goods/ services ordered but not paid for. It refers to the outstanding invoices a company...

Accounts Payable in an accounting entry represents a company’s obligation to pay off a short-term debt to its creditors or suppliers. It appears on the bala...

A Journal Entry is the first step in the accounting cycle. A Journal Entry help keep a record of all business transactions and events in the accounting sys...

Double Entry Bookkeeping is a system of accounting that ensures that every business transaction involves at least two accounts. In the Double Entry system,...

An Accrued Expense is an expense recognized in the books before one pays for it. It is usually on a company’s balance sheet due to the probability that one...

Bookkeeping is the systematic recording and organizing of financial transactions and is part of the process of accounting in business. Transactions include ...

An Accrued Interest is the amount of interest earned on debt but not yet collected. Interest accumulates from the date a loan is issued. It is calculated b...

Profit is a financial benefit one realizes when the amount of revenue from a business activity exceeds the expenses, costs and taxes needed to sustain the a...

A Fixed Cost is an expense or cost that does not change with an increase or decrease in the number of goods produced or services rendered. Fixed Costs are e...