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2. Accounting ACCG
Definition: A systematic way of recording and reporting financial transactions.
3. Accounts Payable AP
Definition: The amount of money you owe creditors (suppliers, etc.) in return for good and/or services they have delivered. See how it works he re .
5. Balance Sheet BS
Definition : A financial report that summarizes a company's assets (what it owns), liabilities (what it owes) and owners equity at a given time.
6. Capital CAP
Definition: A financial ass et and its value, such as cash or goods. Working capital is calculated by taking your current assets subtracted from current liabilities.
7. Cash Flow CF
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Definition: The revenue or expense expected to be generated through business activities (sales, manufacturing, etc.) over a period of time. Having a positive cas h flow is es sential in order for businesses to survive in the long run.
10. Credit CR
Definition: 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-e ntry accounting method there will be two recorded entries for every transaction: a credit and a debit.
11. Debit DR
Definition: An accounting entry where there is either an increase in assets or a decrease in liabilities on a company's balance sheet.
Authors note: All of the basic accounting term definitions were provided by Investopedia.
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Tw eet
Grant Tilus
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As an Inbound Marketing Specialist at Rasmussen College, Grant creates helpful, student- focused articles to educate, encourage, and motivate current, past, and future students in an effort to promote a learning culture that changes and builds lives. 29 Connect with Grant Tilus Google+: Twitter:
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amna
2 months ago
hmm...gud effort..
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graphic design Rochester NY Really very nice post thanks for share
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