Accounting and Business glossary.txt

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Author:
swbui62
ID:
214856
Filename:
Accounting and Business glossary.txt
Updated:
2013-04-21 15:11:13
Tags:
Accounting Business Glossary
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Description:
Accounting and business glossary
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  1. Accelerated Depreciation
    The declining balance and sum of the year's digits method which give greater deprectiation to the early years of the life of the assets.
  2. Account
    A record of transactions of a financial nature
  3. Account balance
    The difference between the sum of the debts and credits
  4. Accounting
    The recording and auditing of financial accounts
  5. Accounts payable
    Verbal promises made by a business to pay for merchandise, equipment, services, etc. furnished to the business

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