clearbooks.co.uk

Website:https://www.clearbooks.co.uk/
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accounting terms


for your reference.
Source: clearbooks.co.uk

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Source: clearbooks.co.uk

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accounts payable


Amounts due for payment to suppliers of goods or services, also described as trade creditors.
Source: clearbooks.co.uk

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accounts receivable


Amounts due from customers, also described as a trade debtors.
Source: clearbooks.co.uk

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accounts


Financial statements prepared at the end of a period to reflect the profit of loss or the period and financial position at the end of the period.
Source: clearbooks.co.uk

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accounting period


Time period for which financial statements are prepared (e.g. month, quarter, year).
Source: clearbooks.co.uk

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accruals basis


The effects of transactions and other events are recognised when they occur (and not as cash or its equivalent is received or paid) and they are recorded in the accounting records and reported in the [..]
Source: clearbooks.co.uk

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amortisation


Process similar to depreciation, usually applied to intangible fixed assets.
Source: clearbooks.co.uk

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assets


Something a business owns/uses, e.g. equipment or rights to a trademark.
Source: clearbooks.co.uk

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audit


An audit is the independent examination of, and expression of opinion on, financial statements of an entity.
Source: clearbooks.co.uk


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