by Lea Strickland | Jul 30, 2010 | Glossary
Liabilities that will come due or be paid within 1 year.
by Lea Strickland | Jul 30, 2010 | Glossary
Assets likely to be used, consumed, or other wise “converted” into cash within 1 year.
by Lea Strickland | Jul 30, 2010 | Glossary
This is a balance sheet account that offsets the balance of another account. For example, the accumulated depreciation account offsets the fixed asset account. Another example would be an Allowance for Uncollectible Accounts which offsets the accounts receivable...
by Lea Strickland | Jul 30, 2010 | Glossary
The listing of all accounts used to categorize/group/label the organization’s transactions in an accounting system.
by Lea Strickland | Jul 30, 2010 | Glossary
The financial statement which includes asset, liability and equity accounts. This financial statement is a point in time snapshot of the financial position of the organization.
