Accounts Receivable The amount of money that the customer is liable to pay after the delivery of goods and services. Accounting It is the process of […]
Accounts Receivable: The amount of money that the customer is liable to pay after the delivery of goods and services.
Accounting: It is the process of systematic recording, reporting, and analysis of financial statements of a business.
Accounts Payable: The amount of money that the company owes to its creditors or the suppliers in lieu of the purchase of goods and services.
Accrual Basis Accounting: This is a widely accepted form of accounting. It records the transactions when income is earned and expenses are incurred irrespective of the fact when income is actually received or expenses are actually deducted.
Assets: The things owned by the business that enhance the profit earning capacity of a business are known as assets. For example Furniture and fixtures, cash, plant, land etc.
Balance Sheet: It reflects the financial position of a business. In other words, it is a financial report that summarizes the value of assets and liabilities at the end of the year. To know more visit: https://www.hostbooks.com/in/hybrid-accounting-software/