Good Day Everyone! Please visit our website https://shaynejoyce.jimdo.com/ this website contains about Business and Accounting that will help you to gain your knowledge. It has some ideas and information about business and accounting that help you to know more about it and you may use it in the future.
Our website entitled Business Reads, in our home page it contains our hobbies and interest in life that we relate to our chosen track. In about us, you can see there are the link of our Facebook page, WordPress and Youtube videos. In our photo gallery, you can see different picture about nature and the link of our photo bucket. And lastly the community, it contains the links of other website that also related in business and accounting. This all information that you will get in our website can help you especially if you are a Senior High School Student that have an interest in business and accounting.
If you want to know more visit now in our website. Thank you!
Accounts Receivable– The amount of money owed by your customers after goods or services have been delivered and/or used.
Example:Accounts Receivable financing is fairly new in business finance but has gained popularity among small business enterprises.
Accounts Payable– The amount of money you owe creditors (suppliers, etc.) in return for good and/or services they have delivered.
Example: It went live with financials software for general ledger accounts payable and non-inventory purchasing in Feb. 2017.
Assets (fixed and Current) – Current assets are those that will be used within one year. Typically this could be cash, inventory or accounts receivable. Fixed assets (non-current) are more long-term and will likely provide benefits to a company for more than one year, such as a building, land or machinery.
Example: A good home trade connexion is considered an extremely valuable asset, and as the trade is highly differentiated than profits are usually good.
Balance Sheet– A financial report that summarizes a company’s assets (what it owns), liabilities (what it owes) and owner’s equity at a given time.
Example: For law firms of all sizes, next to payroll, the single largest item on the monthly balance sheet is usually office rent.
Capital- A financial asset and its value, such as cash or goods. Working capital is calculated by taking your current asset subtracted from current liabilities.
Example: If you are trying to raise capital for an existing business you need to know your options.
Credit- An accounting entry that may either decrease assets or increase liabilities and equity on the company’s balance sheet, depending on the transaction. When using the double-entry accounting method there will be two recorded entries for every transaction: a credit and debit.
Example: Your credit card statement captures an accurate, albeit extremely abbreviated, record of your comings and goings.
Debit- An accounting entry where there is either an increase in assets or a decrease in liabilities on a company’s balance sheet.
Example: Dealers pass their debit and credit vouchers into the Cotton Bank and pay or receive the balances which they owe or entitled to.
General Ledger– A completes record of the financial transactions over the life of company.
Example: During this process, an accountant or a business owner matches the balance of the general ledger statement to the bank statements.
Expense- The fixed, variable, accrued or day-to-day cost that a business may incur through its operations. Examples of expenses include payments to banks, suppliers, employees or equipment.
Example: Tom sent money to Mary to help her pay for school expenses.
Liabilities (Current and Long-term) – A company’s debts or financial obligations it incurred during business operations. Current liabilities are those debts that are payable within a year, such as a debt to suppliers. Long-term liabilities are typically payable over a period of time greater than one year. An example of long-term liabilities would be a bank loan.
Example: Since her baby’s father is not paying his child support, the government is going to deduct the liability from his paycheck each week.
This is your very first post. Click the Edit link to modify or delete it, or start a new post. If you like, use this post to tell readers why you started this blog and what you plan to do with it.
Accounting Terms 