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Journal entries can record unique items or recurring items such as depreciation or bond amortization. In accounting software, journal entries are usually entered using a separate module from accounts payable, which typically has its own subledger, that indirectly affects the general ledger. As a result, journal entries directly change the ...
Recurring means occurring repeatedly and can refer to several different things: Mathematics and finance. Recurring expense, an ongoing (continual) expenditure;
In accounting terms, assets are recorded on the left side (debit) of asset accounts, because they are typically shown on the left side of the accounting equation (A=L+SE). Likewise, an increase in liabilities and shareholder's equity are recorded on the right side (credit) of those accounts, thus they also maintain the balance of the accounting ...
In linear recurrences, the n th term is equated to a linear function of the previous terms. A famous example is the recurrence for the Fibonacci numbers , F n = F n − 1 + F n − 2 {\displaystyle F_{n}=F_{n-1}+F_{n-2}} where the order k {\displaystyle k} is two and the linear function merely adds the two previous terms.
In bookkeeping, a general ledger is a bookkeeping ledger in which accounting data are posted from journals and aggregated from subledgers, such as accounts payable, accounts receivable, cash management, fixed assets, purchasing and projects. [1] A general ledger may be maintained on paper, on a computer, or in the cloud. [2]
Auditing terms (25 P) Pages in category "Accounting terminology" The following 98 pages are in this category, out of 98 total. This list may not reflect recent changes.
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Income is a short term inflow during the fiscal year. Expense is short term outflow during the fiscal year. An asset is a long term inflow with implications extending beyond the financial period and by the traditional view could represent unclaimed income. Alternatively, an asset could be valued at the present value of its future inflows.